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19 May 2021 9:17
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  •   Home > News > Business

    Fonterra has completed the sale of two farming hubs in China for more than 550 million dollars

    Fonterra has completed the sale of two farming hubs in China for more than 550 million dollars


    Fonterra
    Fonterra
    In October, the dairy giant announced the sales to the Inner Mongolia Youran Dairy Company, which has since got anti-trust and regulatory clearance in China.

    CEO Miles Hurrell says the the farms helped China develop its dairy industry.

    He says company's strategy is now focusing on its Foodservice, Consumer and Ingredients businesses in China.

    The co-op is continuing with the sale of its 85 percent stake in its Hangu farm, to a minority shareholder.

    © 2021 Newstalk ZB, NZCity


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