20% stake (which is enough to block any takeover) seems sufficient exposure to all the additional risks / costs that Synlait currently absorbs, and they have already diversified away with MVM. I think it makes more sense for them to focus on making MVM profitable and utilising it more. They have enough influence over Synlait for their needs and anything additional would be unnecessary IMO. In any case I doubt the Chinese would give up their interest so easily.
Going back to your other post about Synlait's announcement, it certainly was a dig at A2 but I also think it was referring to earlier changes in production forecasts etc that occurred during 1H23 and therefore prior to A2M's report. A2M brought forward large orders of China label product in order to build inventory to sell after their SAMR registration has expired. However, they would also have then notified SM1 that they were suspending further China label production indefinitely, i.e. until the renewal is given.
That seems consistent with A2M's situation as already reported. However, we probably won't know more about the rest of SM1's troubles (those unrelated to A2M) until next Monday when their results are released.
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