A2 has the majority shares in a business that produces other products and not just IF......
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Why Bright Dairy Can't and Won't let Synlait fail
https://businessdesk.co.nz/article/p...t-synlait-fail
paywalled
From what I read- Bright have not got internal approvals for the 130M, nor Synlait board approval and then shareholder approval. We are 5 weeks away from
armageddon so let’s hope all is revealed soon.
From that article -
In a notice to the Shanghai stock exchange on June 5, translated from Chinese to English, the NZ dairy processor’s largest shareholder said it planned to extend an emergency loan to Synlait, subject to approval from its board and shareholders. Enclosed in the notice was an investment risk warning, flagging investors to exercise caution due to the uncertainties and pending approval process for the loan.
The approvals in the article refer more to Synlait's board and shareholders rather than Bright Dairy (inconceivable pre-approvals not in place) as the loan of $130m is not material given Bright's total assets of over $5 billion and market cap of over $2 billion.
Fly in the ointment is A2M who could conceivably vote against the Bright loan.