Fonterra to trim Beingmate stake

Move part of NZ dairy giant's plan to turn around business in the Chinese market

New Zealand-based global dairy giant Fonterra on Wednesday announced its intention to sell part of its stake in Beingmate Baby and Child Food Co Ltd, which market insiders believe may lead to the end of their four-year collaboration.

Fonterra's Chief Executive Miles Hurrell said the decision is part of the company's plan to turn around its business. Fonterra currently has an 18.8 percent stake in Beingmate.