China Mengniu Dairy's $1.5 billion bid for Bellamy's has been conditionally approved by Australia.Credit:Kate Geraghty
Ms Cameron,who did not respond to inquiries fromThe Age andThe Sydney Morning Herald on Friday,remains Bellamy's biggest shareholder.
Her latest sale of almost 3.5 million Bellamy's shares came on September 24,just days after the Bellamy's/Mengniu deal was announced.
Mr Frydenberg said the Foreign Investment Review Board's (FIRB)"unanimous"recommendation for the deal to be approved came after extensive consultations.
He has imposed a range of conditions on the deal,which he said were to ensure that the acquisition was"not contrary to the national interest".
The conditions include that Bellamy's keep its headquarters in Australia for at least 10 years,that the majority of its board be Australian resident citizens,and that at least $12 million be invested in improving,or establishing,infant milk formula processing facilitates in Victoria.
"This approval will ensure Bellamy's can continue to support jobs in Australia and strengthen its ability to expand its domestic market as well as its export opportunities,particularly into the growing Asian market,"he said.
"The Morrison government welcomes foreign investment where it is consistent with our national interest. Without foreign capital and investment,Australia’s output,employment and standard of living would be lower."