Reported 2 days ago
New Zealand's Fonterra Co-operative Group has finalized a $2.2 billion sale of its global consumer business to French dairy giant Lactalis, resulting in a significant 17.1% increase in Fonterra's shares, reaching a 7-year high. The deal includes well-known brands like Mainland, Anchor, and Anlene, alongside commitments for long-term milk purchases. Fonterra aims for a tax-free capital return of NZ$2 per share after the sale, which is pending shareholder and regulatory approvals and is expected to close in the first half of 2026.
Source: YAHOO