Fonterra Cooperative Group has sought to reassure shareholders after its Chinese partner Beingmate Baby and Child Food Co slashed its full-year guidance. Fonterra bought an 18.8% stake in Beingmate in 2015 as it sought to ensure greater access to the Chinese market. He noted that since Fonterra took the stake, the company had gone through some tough times which "is broadly reflective of what is a very tough market for everybody." Beingmate shares are trading at ¥12.56, well down on the ¥18 per share Fonterra paid for its 18.8% stake. Units in the Fonterra Shareholders' Fund increased 0.2% to $6.27.

Source: Otago Daily Times January 25, 2017 06:22 UTC