Fonterra reaped 25% gain from Bega shares driven to record by Blackmores tie-up

Sun, 01 Nov 2015

By Jonathan Underhill Nov. 2 (BusinessDesk) - Fonterra Cooperative Group reaped a 25 percent gross gain on its two-year investment in Australia's Bega Cheese shares, which jumped to a record last week after announcing a partnership with Blackmores that will compete with the New Zealand dairy exporter in China's infant formula market. Fonterra spent about A$60.7 million to build a 9 percent stake in Bega in November 2013, which it sold last week for A$74 million. It also received about A$1.6 million of dividends. Fonterra is in the process...

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