About 94 per cent of Westland Milk Products (WMP) farmer shareholders voted in favour on Thursday to selling the company to China's Yili Industrial Group for $558 million. JOANNE CARROLL/STUFF Prime Minister Jacinda Ardern visited Westland Milk Products to announce a $9.9 million loan as part of a $140 Provincial Growth Fund package announcement for the West Coast. READ MORE:* Westland Milk shareholders vote 90 per cent in favour of sale to Yili* Westland Milk boss promised $680k bonus if sale to Chinese goes through* Westland dairy farmers cautious about Yili takeover offer, despite potential windfallNeylon was against the co-operative, which was formed in 1937, going into foreign ownership. Joanne Carroll/Stuff Buller farmer Graeme Neylon voted against the sale of Westland Milk Products. West Coast farmer and Federated Farmer president, who is also a WMP director, Katie Milne said it was an "absolutely stunning" result for West Coast farmers.

Source: Stuff July 04, 2019 03:45 UTC