\u201cLactalis becomes one of our most significant Ingredients customers, as we continue to supply milk and other products to the divested businesses,\u201d Hurrell said.<\/p>\n
Fonterra will return $3.2b of divestment proceeds to farmer shareholders and unit holders via a $2.00-per-share capital return.<\/p>\n
The dairy co-operative\u2019s shareholder farmers approved the sale<\/a> at a virtual special meeting last month, with 98.85% voting in favour. The proposal required 75% support.<\/p>\n Analysts estimate the sale will deliver about $400,000 tax-free to the average Fonterra farmer.<\/p>\n The sale will also mean Fonterra will have $1b to spend over the next three to four years in projects to generate further value through its remaining high-performing Ingredients and Foodservice businesses.<\/p>\n Under Hurrell, Fonterra has raised over $7b through the sale of its assets<\/a>, ranging from an ice cream manufacturer to farms in China.<\/p>\n Fonterra sold Tip Top<\/a> to Froneri for $380 million in 2019, DFE Pharma to CVC Capital for $633m in 2020, holdings in Beingmate for $237m in 2020 and 2021, various farms in China ($640m) and Chile\u2019s Soprole<\/a> to Gloria Foods ($1.055b) in 2023.<\/p>\n Fonterra said the record date for being eligible for the $3.2b capital return is 5pm on April 9 and the payment date is April 14.<\/p>\n The NZX has approved a three-day trading halt for Fonterra\u2019s shares and Fonterra Shareholders\u2019 Fund units from April 8 until the close of trading on April 10 to ensure all trades have settled before the record date and to allow time to update Fonterra\u2019s share register.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cLactalis becomes one of our most significant Ingredients customers, as we continue to supply milk and other products…\n","protected":false},"author":2,"featured_media":355965,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[188192,60783,8613,138,10166,5907,111654,3311,7224,7226,11775,13313,1437,209,702,302,38118,23394,135534,111,139,69,1118,1133,61],"class_list":["post-355964","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-188192","tag-associated","tag-billion","tag-business","tag-businesses","tag-completed","tag-completes","tag-consumer","tag-dairy","tag-fonterra","tag-french","tag-giant","tag-global","tag-group","tag-it","tag-its","tag-lactalis","tag-mainland","tag-milking","tag-new-zealand","tag-newzealand","tag-nz","tag-of","tag-sale","tag-to"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/355964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=355964"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/355964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/355965"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=355964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=355964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=355964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}