The giant Dutch dairy co-op Royal FrieslandCampina has raised its stake in New Zealand’s Symlait from 7.5% to 9.999% buying 3.6 million shares at NZ$3.85 each. The purchase places the Dutch co-op ahead of Japan’s Mitsui & Co. which holds 8.4% and second behind China’s Bright Dairy Food which owns 39% after being diluted in last year’s initial public offering. Synlait has announced that net profits for the year ending July 31st would be between NZ$30 million and NZ$35 million – up from the NZ$19.67 million originally forecasted in the company prospectus.
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