Fonterra sells China Ying, Yutian farming hubs for $552 million - News Summed Up

Fonterra sells China Ying, Yutian farming hubs for $552 million


Fonterra has sold two dairy farm hubs in China, coinciding with a merger and acquisition boom on the mainland. Photo / 123RFFonterra has sold two dairy farm hubs in China, coinciding with a merger and acquisition boom on the mainland. Photo / 123RFFonterra has completed the sale of its two wholly-owned China farming hubs in Ying and Yutian for $552 million. The co-op said in October the sale of the farms to Inner Mongolia Youran Dairy Co (Youran) was subject to anti-trust clearance and other regulatory approvals in China. Despite a strong first half, Fonterra expected its earnings performance to come under "significant pressure" - due to higher milk prices - in the second.


Source: New Zealand Herald April 01, 2021 04:28 UTC



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