Miles Hurrell: Fonterra Chief Executive confident farmers will support $3.8billion brand sales
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
Fonterra is confident farmers will vote to sell major brands like Anchor and Mainland.
It's reached a deal to sell its consumer and associated businesses to French dairy giant Lactalis for $3.845billion.
The deal still needs the approval of shareholders.
Fonterra Chief Executive Miles Hurrell told Heather du Plessis-Allan that the offer is above expectation, and there will be a $2 capital return per share.
He says, while the public have a strong emotional connection with the brands - the feedback has been positive.
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