August 6, 2019 / 10:03 PM / 17 days ago

NZ's Fonterra to reduce stake in China's Beingmate Baby & Child Food

Aug 7 (Reuters) - New Zealand’s Fonterra Co-operative Group said on Wednesday that it intends to reduce its stake in China’s Beingmate Baby & Child Food Co Ltd.

Fonterra, the world’s biggest dairy exporter, has an 18.8% stake in Beingmate and said it is reviewing the relationship with the Chinese infant formula maker, which it described as “disappointing”. (Reporting by Rashmi Ashok in Bengaluru; editing by Grant McCool)

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