Business

New Zealand’s Fonterra to sell China dairy farms for $368 mln to focus on home markets – Reuters

New Zealand’s Fonterra said on Monday it has agreed to sell its farms in China for a total of NZ$555 million ($367.97 million) as the dairy pr…

Published

5 years ago

October 5, 2020

Noosa Online News Publisher

By Reuters Staff
FILE PHOTO: A Fonterra milk tanker drives past dairy cows as it arrives at Fonterra’s Te Rapa plant near Hamilton, New Zealand, in this August 6, 2013 file photo. REUTERS/Nigel Marple/Files/File Photo
(Reuters) – New Zealand’s Fonterra FCG.NZFSF.NZ said on Monday it has agreed to sell its farms in China for a total of NZ$555 million ($367.97 million) as the dairy producer continues to focus on the domestic market and reduce debt.
The company unveiled plans last year to halt …

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