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6 Jul 2020 18:29
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  •   Home > News > Rural

    A big payday's coming for farmers in New Zealand's second-biggest dairy co-op

    A big payday's coming for farmers in New Zealand's second-biggest dairy co-op


    The High Court takeovers panel has approved the sale of Westland Dairy to the Inner Mongolia Yili Company for 588-million-dollars.

    West Coast dairy farmer and farming commentator Andy Thompson says 94 percent of shareholders agreed to the offer - of 3 dollars and 41 cents a share.

    He says the deal will go through on August 1 - and it'll be a big payout for Westland's farmers.

    © 2020 Newstalk ZB, NZCity


     Other Rural News
     26 Jun: Manawatu dairy farmer Andrew Hoggard is the new president of Federated Farmers
     26 Jun: Former Zespri chairman Peter McBride will lead the boardroom of the country's largest company
     26 Jun: Fonterra is replacing its retiring chairman John Monaghan with Tauranga dairy farmer and kiwifruit grower Peter McBride
     24 Jun: The global demand for sheep milk is growing, and Kiwi farmers are responding
     23 Jun: Fonterra farmers who produce sustainable, high quality milk will soon be eligible for a new payment of up to 10 cents per kg of milksolids
     15 Jun: Dairy farmers aren't overly optimistic that a wide ranging milk payout will be narrowed
     03 Jun: Dairy farmers have agreed to again bankroll their industry organisation
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