The proposed sale of Anchor and Mainland brands to French company Lactalis could unlock around 4.5 billion in additional spending.
ASB economists estimate the sale would deliver a tax-free capital return of 3.2 billion dollars to around eight thousand shareholding farms.
Forsyth Barr Senior Analyst Matt Montgomerie says the sale would focus Fonterra on what it's done best historically, and what its highest returns are.
