Chinese businessman Lu Xianfeng’s company Moon Lake Investments has made a $280 million binding offer to buy the dairy company, but the sale is still subject to approval from the Foreign Investment Review Board.
The board’s decision is expected this month.
Ms Cameron is relying on federal crossbenchers, including independent MP Andrew Wilkie, and senators Nick Xenophon, Jacquie Lambie and John Madigan, to lobby Treasurer Scott Morrison to veto the sale to Moon Lake.
Ms Cameron, the founder of retail chain Kathmandu, said she was getting legal advice about underwriting a bid that is commercially similar to the Chinese bid.
«I’m putting out expressions of interest,» she said.
«I’m underwriting it, so I’m sure there will be other significant investors who come on board.»
Ms Cameron will lodge a formal expression of interest by Friday.
Renewed calls to block sale
Senator Xenophon urged the Foreign Investment Review Board to reject the proposed sale to Moon Lake, so Australian investors could have an opportunity to give an alternative bid.
«This 20,000 hectares of prime dairy country and refuge for the endangered Tasmanian devils is a priceless asset and it is clearly in the national interest for it to be in Australian hands,» he said.
Federal independents Andrew Wilkie, John Madigan, Jacquie Lambie and Glenn Lazarus are also calling for the sale not to go ahead.
Mr Wilkie said he was not opposed to foreign investment.
«But surely we’ve got to draw a line somewhere,» he said.
«Surely we’ve got to say that when something is of strategic value to this country that is must be Australian-held.»
Mr Wilkie acknowledged VDL was already foreign-owned, but said this was a once-in-a-lifetime opportunity to take Australian ownership.
«I’m actually not too fussed which Australian interest buys it, and I’m not endorsing Jan’s proposal specifically,» he said.
Ms Cameron was part a $250 million bid by Australian company TasFoods for VDL in November.
TasFoods thought its bid had been successful, but was gazumped by Moon Lake Investments.
TasFoods claims the New Zealand owners of VDL breached a sale contract they had already signed.
The matter will go to trial in February.
Source: ABC