Fonterra and Nestlé agree sale of DPA Brazil joint venture
Fonterra and Nestlé today agreed the sale of their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for BRL 700m (approximately NZD $210m subject to closing transaction adjustments). The deal is expected to be completed by mid-2023, subject to regulatory authority approvals.
Fonterra upgrades earnings guidance and posts strong first quarter
Fonterra Co-operative Group Ltd today upgraded its earnings guidance to 50 – 70 cents per share from 45 - 60 cents per share and lowered and narrowed its forecast Farmgate Milk Price range of $8.50 - $10.00 per kgMS to $8.50 - $ 9.50 per kgMS, with a midpoint of $9.00 while holding its advance rate. It also reported a strong start to the 2023 financial year.
Fonterra confirms timeline for Capital Structure implementation
Fonterra can today confirm that its new Flexible Shareholding capital structure is set to be implemented in late March 2023, subject to the Board being satisfied that the relevant preparations are completed before then.
Fonterra announces divestment of Chile business
Fonterra is pleased to announce the divestment of its Chilean Soprole business. The divestment comprises a number of transactions that result in aggregate consideration of 591.07 billion Chilean Pesos (approximately NZD1.055 billion).
Fonterra, NZX and EEX confirm GDT strategic partnership
Fonterra today confirms the finalisation of the strategic partnership with New Zealand’s Exchange (NZX) and the European Energy Exchange (EEX) to each take ownership stakes in Global Dairy Trade (GDT) alongside the Co-op.
Fonterra provides
2022/23 opening forecast Farmgate Milk Price and update on business performance
Fonterra today announced its 2022/23 opening forecast Farmgate Milk Price and provided an update on its third-quarter performance.
Farmer feedback set to
shape revised capital structure proposal
With the first phase of Fonterra’s capital structure consultation now complete, the Co-op is drawing up a revised proposal that aims to reflect farmers’ views.
Fonterra agrees sale of China JV farms
Fonterra has agreed the sale of its two joint venture farms in China, with the sale expected to be completed on 30 June.
Fonterra sets opening 2021/22
forecast Farmgate Milk Price
and updates on business performance
Fonterra today announced an opening forecast Farmgate Milk Price range for the 2021/22 season of $7.25 - $8.75 per kgMS, with a midpoint of $8 per kgMS.