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17 Apr 2024 7:51
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      Home > News > Rural

    Fonterra's bosses are wrestling with a major debt issue, as they look to shed more overseas interests

    Fonterra's bosses are wrestling with a major debt issue, as they look to shed more overseas interests


    Fonterra
    Fonterra
    The dairy giant is trying to wipe 800 million dollars of debt off its plate.

    Fonterra's CEO Miles Hurrell says he's reviewing the company's joint venture with Nestle in Brazil, and rethinking two farm hubs in China.

    Dairy industry analyst and economist Peter Fraser says the company owes about as much as its worth.

    He says it's a 7.4 billion dollar company, that's got 7.3 billion dollars of debt.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
     21 Mar: The boss of Fonterra is playing down concerns about the Chinese market
     21 Mar: A good news day for Fonterra shareholders
     21 Mar: Dairy farmers will be breathing a sigh of relief with Fonterra's latest results
     20 Mar: There's bad news for dairy farmers on the eve of Fonterra's half year results -- with dairy prices dropping a further 2.8 percent at the latest Global Dairy Trade auction this morning
     13 Mar: Sheep and beef farmers are looking down the barrel of their worst year in 15 years
     07 Mar: Sheep and goat milk farmers are being left with few options as the sector grinds to a halt
     21 Feb: Dairy prices are up 0.5 percent at the latest Global Dairy Trade auction overnight
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