Chinese-Australian property billionaire Hui Wing Mau has bought a 51 per cent stake in NSW meat processor Bindaree Beef Group.
Although the cost of stake wasn't disclosed, it is believed to be worth between $100 million and $150m, according to AAP.
Bindaree Beef Group's five divisions span an abattoir at Inverell and the Myola feedlot at North Star, both in northern NSW, as well as meat sales and marketing operation Sanger Australia, and the Australian Meat Emporium retail outlet at Alexandria, Sydney.
Bindaree Beef founder JR McDonald said the partnership would help Bindaree expand its operations both domestically and internationally.
Bindaree Beef Group was formed in 2015 as a vertically integrated supply chain business, and is the fifth largest meat processor in Australia.
