Maybe A2M have never really wanted to have any further stake in Synlait from the outset, unless it was totally necessary for their survival.
For awhile there it was looking unclear whether Synlait would survive. Bright has had to dig deep - something like $300M they have injected now and likely more to come.
For all we know, A2M was refusing to approve Bright’s loan unless Bright committed to:
- Synlait backing down on exclusivity rights, so no barriers to A2M transitioning EL production away
- Synlait granting them a second China label SAMR slot
- Bright doing all the heavy lifting in the capital raise and any subsequent financing
- Bright taking greater control over Synlait’s operation and sorting their issues out
what's Bright’s got for their money? They returned to a position of majority ownership, which was already the case when Synlait first started producing A2 Platinum. Albeit Bright will have a larger stake now then it was back then.
The only way they see any return on their investment is if Synlait’s major customer A2M thrives.
Just another way of viewing this - not necessarily what I believe but far more plausible then 'ohh that munt DB is taking bribes from the commies' or whatever you were spouting.
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