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27 Jun 2022 6:14
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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.

    © 2022 Newstalk ZB, NZCity

     Other Rural News
     24 Jun: Farmers says a stock control bylaw being proposed by the Tasman District Council, will be impossible for farmers to comply with
     23 Jun: Fonterra has lifted its Farmgate Milk Price to a new record high
     22 Jun: Dairy prices have dipped 1.3 percent at the latest Global Dairy Trade auction overnight
     17 Jun: Fertiliser co-operative Ballance say they are beginning to produce their own fertiliser
     08 Jun: Fonterra is buying back 50 million dollars' worth of its own shares
     08 Jun: Fonterra has announced a 50-million dollar share buyback
     08 Jun: Dairy prices have risen in the first Global Dairy Trade auction of the new season
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