Business
Fonterra sells China farms for $555m to pay down debt – New Zealand Herald
Fonterra has sold its China farm interests and will pay down debt with the proceeds.
Fonterra has agreed to sell its China farms for a total of $555 million to Inner Mongolia Natural Dairy Company, a subsidiary of China Youran Dairy Group.
Separately, Fonterra said it had agreed to sell its 85 per cent interest in its Hangu farm to Beijing Sanyuan Venture Capital Co for $42m.
Sanyuan has a 15 per cent minority shareholding in the farm and exercised its right of first refusal to purchase Fonterra’s interest.
READ MORE: Fonterra performs much better but CEO Miles Hurrell’s pa…
-
Business17 hours agoASX retail share whose ‘fundamentals have deteriorated significantly’: expert
-
General16 hours agoJannik Sinner reveals secret Wimbledon bet that could keep Darren Cahill in his team
-
Noosa News20 hours agoAustralia Zoo reunites with the Ukrainian community
-
Noosa News20 hours ago“Hidden gem”: last chance for renovated bayside homes below $1m