Fonterra reaches provisional deal with Beingmate to unwind Darnum JV

Fonterra reaches provisional deal with Beingmate to unwind Darnum JV
Paul McBeth
By Paul McBeth Dec. 5 (BusinessDesk) - Fonterra Cooperative Group has reached a provisional deal with Chinese partner Beingmate Baby & Child Food to unwind their Darnum joint venture in Australia.  The joint venture - 51 percent owned by Beingmate and 49 percent Fonterra - produced infant formula products at the Darnum plant in Australia for Beingmate's Chinese customers, and was a key component of Fonterra's plan to expand its reach into China's second and third-tier cities.  That Beingmate partnership included Fonterra taking a 19 pe...