Fonterra pressed to provide 'more fulsome' details on Beingmate investment

Mon, 11 Sep 2017

By Pattrick Smellie Sept. 12 (BusinessDesk) - Fonterra Cooperative Group owes holders in its Fonterra Shareholders Fund units a "more fulsome" update on Beingmate, the struggling Chinese infant formula producer and distributor that Fonterra uses to push its leading Anmum formula into the Chinese market, according to an analyst. In a note to investors dated Sept. 7, First New Zealand Capital's head of institutional research, Arie Dekker, identifies the lack of transparency about Fonterra's 18.8 percent shareholding in Beingmate as a confid...

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