Fonterra buys 18.8% of China's Beingmate for about $755 million

Mon, 16 Mar 2015

By Fiona Rotherham March 16 (BusinessDesk) - Fonterra Cooperative Group, the world’s largest dairy exporter, has acquired 18.8 percent of Shenzen-listed Beingmate Baby & Child Food, falling short of the stake of up to 20 percent it was seeking in a partial tender offer. The transaction, valued at 3,464 million RMB (NZ$755 million) is well above the $615 million Fonterra indicated it would cost for a 20 percent share last year when the deal was first announced. The transaction will close in the next few days. Chief Financial Officer Luk...

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