ASX-listed Clover Corp takes 'fairly significant steps' to seize control of Melody Dairies

ASX-listed Clover Corp takes 'fairly significant steps' to seize control of Melody Dairies
Melody Dairies' plant outside Hamilton. (Image: Google)
Riley Kennedy
The Australian outfit, which formed a joint venture with the state-owned farmer to fund a Waikato spray drying operation, says it’s taken “fairly significant steps” to take control of the business.Four years ago, Melody Dairies was set up by Clover Corporation and Landcorp (Pāmu), as well as an entity connected to the now-collapsed Dairy Nutraceuticals, to fund, build and run the $50 million dryer.FoodWaikato, which is owned by the Hamilton city council, set up the first dryer nearly 10 years ago with Callaghan Innovation...

More Finance

Why Fonterra Oceania makes sense
Finance

Why Fonterra Oceania makes sense

It’ll be made out of Fonterra Australia and Fonterra Brands NZ.

Riley Kennedy 23 Feb 2024
Colin Rath won't be pursued over potential director duties breach
Finance

Colin Rath won't be pursued over potential director duties breach

He's also had another nine months added to his sentence.

Riley Kennedy 21 Feb 2024
IAG profits on the back of premium hikes
Finance

IAG profits on the back of premium hikes

The insurer posted profits of A$204 million in the first half of the financial year.

Staff reporters 16 Feb 2024