date:Aug 28, 2014
New Zealand's Fonterra on Wednesday said it will take a stake in Chinese baby food and formula maker Beingmate Baby and Child Food Co. Ltd in the dairy giant's first tie-up with a Chinese processor since its involvement in a tainted infant formula scandal in 2008.
The tie-up continues a trend of foreign dairy producers partnering with established Chinese players to grab greater shares in China's fast-growing dairy market. French dairy giant Danone SA in February paid $665 million to lift its st