DIRA bill passes third reading, Fonterra's capital restructure in by late March

(Image: Getty)

Fri, 25 Nov 2022

The legislation which would enable Fonterra to undertake its capital restructuring has passed its final reading in parliament.Fonterra confirmed on Friday morning that the new structure should be in place by March.Last night, the Dairy Industry Restructuring (Fonterra Capital Restructuring) Amendment Bill passed its third reading with the support of Labour, National and the Act party.The Green party and Te Pati Māori opposed it, as they did during the first two readings. New structureAt Fonterra’s 2021 annual meeting, the dairy expor...

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