Windfall Awaits New Zealand Farmers as Fonterra Eyes Asset Sales [Financial Post (Toronto, Ontario, Canada)]
NESTLE S.A S/ADR (NSRGY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — New Zealand dairy farmers could be in for a big pay day if Fonterra Cooperative Group follows through on plans to exit its global consumer businesses. Auckland-based Fonterra, the world's largest dairy exporter, is considering turning away from branded consumer products to concentrate on making more high-value ingredients derived from New Zealand milk that it sells to other companies like Nestle, Mars and Coca Cola. Article content The operations it's looking to divest are currently valued at NZ$3.4 billion ($2.1 billion), and analysts said the lion's share could be returned to Fonterra's roughly 8,300 shareholding farms. Article content “If they divested the full gambit of these consumer businesses, that would pave the way for a very significant capital return,” said Arie Dekker, head of research at Jarden Securities in Auckland. He estimates
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