Hong Kong firm buys 650ha of Australian Vineyards
CK Life Sciences, a subsidiary of billionaire Li Ka-Shing's Chueng Kong Holdings, has bought 650ha or Australian vineyards. There is increasing investment from Asia-based investors following the free trade deal between Australia and China. The vineyards, which are owned by wine producer McWilliams, are to be rented from CK Life Sciences for 15 years with the option to renew for a further 5 years. This is similar to a deal completed in New Zealand last year.