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13 Apr 2021 23:27
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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

    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

     Other Rural News
     07 Apr: Fonterra's Global Dairy Trade auction has recorded a slight rise in prices overnight
     01 Apr: Fonterra has completed the sale of two farming hubs in China for more than 550 million dollars
     17 Mar: Fonterra says its stand-out market continues to be China
     17 Mar: Fonterra says not being a one trick pony ... has paid off
     17 Mar: Dairy farmers may actually welcome the latest drop in dairy prices
     10 Mar: The Mycoplasma Bovis cattle disease has now been contained to ten properties in Canterbury
     05 Mar: Chinese demand has pushed up the expected payout for farmers
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