Chris LewisQuestions and close scrutiny need to be taken over Yili's proposed purchase of Westland Milk Products before the ink is dried on the deal, Federated Farmers national dairy chairman Chris Lewis says. Last week, Westland Co-operative Dairy Company board signed a conditional sale of its dairy co-operative to Chinese-government-owned Jingang Trade Holding, a subsidiary of Mongolia Yili Industrial Group, for $588million. Westland chairman Pete Morrison said the proposed sale had the unanimous support of the board. Mr Lewis said that from feedback he had received, farmer shareholders to Westland were questioning whether a sale was the right way to go. He said the planned sale would create a lot of discussion with farmers.

Source: Otago Daily Times March 27, 2019 15:45 UTC