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28 Mar 2024 22:53
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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.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
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     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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