The following from The Australian has relevance to Bubs signing...

The following from The Australian has relevance to Bubs signing this agreement and China consumer preference.

In a note, analysts from Citi said the acquisition could grant a2 an “increased ability for a2 to comply with evolving Chinese regulations longer term,” an important ability as the analysts consider increasing geopolitical tensions between Australia and China as one of the company’s largest risk factors. However, the analysts said that due to growing Chinese consumer preference for locally-owned dairy brands - a reversal of the current trend - a more strategic move would have been to establish a joint venture in China with a local partner.