Recently, Beingmate issued a reminder announcement that the company's management was discussing strategic cooperation and investor issues with the introduction of state-owned background, and would sell 51% of the stake in Fonterra Oceania Joint Venture, which meaned that Beingmate and Fonterra were getting further apart. Although Fonterra has not yet made a clear statement, in the industry's view, the future of Fonterra to leave, state-owned enterprises "take over" the possibility is very large.
Just a few days ago, Beingmate issued two announcements that its controlling shareholder, Beingmate Group, intended to transfer part of its Beingmate shares to Great Wall Guorong or its affiliates, which would become more than 5% of Beingmate’s major shareholders. Meanwhile, Beingmate intended to transfer 51% of its joint venture interest in Darren Factory to Fonterra SPV or its affiliates and signed a new product procurement agreement with Darren Factory.
Beingmate said that the strategic cooperation with Great Wall Guorong will not affect the company's ownership structure. It is reported that as of September 30, Beingmate's largest shareholder is Beingmate Holdings Limited, with 34.21% of the shares, and the second largest shareholder is Fonterra Dairy (Hong Kong) Limited, with 18.82% of the shares.
Fonterra only indicated that the review work was steadily under way. In the view of the industry, Fonterra is likely to withdraw, even if it "loses money" to withdraw.
