Why Bright Dairy can’t and won’t let Synlait fail

Bright Dairy vice-president Li Ke with Synlait founder John Penno (right) and former chair Graeme Milne when the Chinese company bought into Synlait in 2010. (Image: NZME)

Riley Kennedy

Fri, 07 Jun 2024

Rebecca Stevenson

Fri, 07 Jun 2024

China's Bright Dairy issued a warning to its investors this week as it extended a $130 million lifeline to embattled dairy processor Synlait.In a notice to the Shanghai stock exchange on June 5, translated from Chinese to English, the NZ dairy processor’s largest shareholder said it planned to extend an emergency loan to Synlait, subject to approval from its board and shareholders.Enclosed in the notice was an investment risk warning, flagging investors to exercise caution due to the uncertainties and pending approval process for the...

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