Beingmate announced on Tuesday it is negotiating "strategic co-operation and investor issues" involving the introduction of state-owned assets. The announcement saw Beingmate shares listed on the Shenzhen Stock Exchange climb 3% to 5.44 ($NZ1.14) before pulling back to 5.38 yesterday. The news came as Fonterra reviewed its poorly performing investment in the Chinese infant formula manufacturer along with other assets. Fonterra paid 18 per share for a total outlay of $755million as part of a joint venture partnership. In 2015 when Fonterra announced the joint venture, former chief executive Theo Spierings said the deal was a game changer for the co-operative in China.

Source: Otago Daily Times November 29, 2018 15:33 UTC