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Feng Shanshan of China plays a shot during the second round of the Evian Championship on Sept. 16 http://www.newyorkrangersteamstore.com/adidas-mats-zuccarello-jersey , 2017 in Evian-les-Bains, France. (XinhuaAlain Grosclaude)






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WELLINGTON, March 16 (Xinhua) -- New Zealand dairy giant Fonterra confirmed Monday that it will buy 18.8 percent of Chinese infant food maker Beingmate, less than the 20-percent stake it had been aiming for.


Fonterra Co-operative Group Ltd. said it had completed the partial tender offer for Beingmate Baby & Child Food Company Ltd. and the transaction would be closed in the next few days.


"Our goal was to acquire up to 20 percent. We are extremely satisfied and confident that the partnership can and should proceed on the basis of the 18.8 percent stake. It is a good result http://www.newyorkrangersteamstore.com/adidas-mark-messier-jersey ," Fonterra chief financial officer Lukas Paravicini said in a statement.


The purchase at 18 Renminbi (2.87 U.S. dollars) per share would cost Fonterra 3.46 billion Renminbi (551.95 million U.S. dollars).


As well as Fonterra buying a stake in Beingmate, the two companies would set up a joint venture to buy