Miles Hurrell: Fonterra CEO on the company selling off its consumer brands
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
Fonterra's farmer shareholders should get a decent payout from the sale of consumer brands like Anchor and Mainland.
They've overwhelmingly voted for a $4.2 billion dollar sale to French company, Lactalis.
ASB economists predict the sale will deliver a tax-free capital return of $3.2 billion - or $400,000 per farmer.
Chief executive Miles Hurrell says that's close, with a wide spectrum of farm sizes.
"Everyone will get their own cash in time accordingly, but yeah, $2 tax-free per share is a decent wedge of cash for most farmers."
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