News | Rural
9 Mar 2021 5:25
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  •   Home > News > Rural

    Fonterra is waiting on regulators to clear the sale of its Chinese farms

    Fonterra is waiting on regulators to clear the sale of its Chinese farms


    Fonterra
    Fonterra
    The co-op announced in October it was selling its farms for a total of 555 million dollars.

    Inner Mongolia Natural Dairy will buy two farming-hubs - and a 85 percent stake in the Hangu farm will go to Beijing Sanyuan Venture Capital.

    Chief financial officer Mar Rivers says the contracts have been signed but they're not sure how long the sale will take as they're going through regulatory approvals.

    The dairy giant admits that developing the farms has been challenging.

    © 2021 Newstalk ZB, NZCity


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