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27 Feb 2021 19:26
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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.

    © 2021 Newstalk ZB, NZCity


     Other Rural News
     25 Feb: Promising news for Fonterra shareholders
     28 Jan: Kiwi dairy farmers are leading the world in low emission production, but there's always room for improvement
     16 Dec: Some good news for farmers, in the last Global Dairy Trade auction before Christmas
     05 Dec: Fonterra farmers are grateful for an extra 20 thousand dollars coming their way when milk markets are so precarious
     04 Dec: Fonterra farmers will share an extra 300 million dollars from a lifted milk price...thanks to strong demand from China
     04 Dec: A recovering China is lifting hopes that Fonterra will continue to piggy-back on growing milk demand
     04 Nov: Dairy farmers are looking ahead - both for the environment, and their farms
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