A2 deepens relationship with Synlait Milk buying 8.2% stake for $47.9M

Thu, 02 Mar 2017

By Paul McBeth March 3 (BusinessDesk) - A2 Milk Co has bought an 8.2 percent stake in Synlait Milk at a small premium, building on an existing supply agreement between the milk marketer and dairy processor. Sydney-headquartered a2 bought 14.6 million shares at $3.275 apiece from Dutch dairy processor Royal FrieslandCampina, a 5.6 percent premium to yesterday's closing price of $3.10 and 3 percent premium to the one-month volume weighted average price. The Dutch company, which counts Fonterra Cooperative boss Theo Spierings as alumni, too...

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