Hmm ... so you are saying that the Chinese minority holder (who...

Hmm ... so you are saying that the Chinese minority holder (who manged to get rid of 75% of a loss making enterprise) makes this deal worthwhile? Chinese company unable to run factory in a profitable way or market their product sold A2M their loss making enterprise and now everything will be good thanks to the remaining 25% Chinese ownership?

Genius ... pull the other one.

I guess the only thing I don't understand is ... their other manufacturer (Synlait) in which A2M bought a ridiculously dear stake is as well part owned by a Chinese company (Bright Dairy - Shanghai owned). Didn't though help them with their sales and marketing problems in China, didn't it?

So - they had already a factory producing their infant formula (Synlait). I can't remember any capacity constraints, i.e. they didn't need an additional factory. Their problem is too much product - they need to feed it to the pigs. Synlait has already this big Chinese stakeholder, even coming from Shanghai as well - and even more importantly - Synlait does have already all the Import licences for their IF to China, which are difficult to get hold off and maintain and which Mataura Valley has not.

Just remind me - which problem is this new acquisition going to solve - and why do you think so?