China-based dietary supplements company BY-Health announced on Wednesday it agreed to take over Australian probiotics maker Life-Space Group for A$690 million ($861.88 million).
According to a filing to the Shenzhen Stock Exchange, the deal still needs approval from the Australian Foreign Investment Review Board.
Founded in 1993, Life-Space is a Melbourne-based probiotics producer. Its products entered the Chinese market in 2014 via cross-border e-commerce.
