No Beingmate writedown needed, Fonterra says
This is despite Fonterra's 18.8% stake now being worth nearly half of what was originally paid
Fonterra has revealed its Chinese partner Beingmate had been assessed for impairment but was given the all clear as “strong future cashflows” are expected.
The dairy giant paid $750 million for an 18.8% stake in the Shenzhen-listed company in March last year when shares were worth 18 yuan
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Jason Walls
Fri, 23 Sep 2016
Fri, 23 Sep 2016
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No Beingmate writedown needed, Fonterra says
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