Fonterra to hit debt reduction target from announced asset sales

Wed, 20 Mar 2019

By Paul McBeth March 20 (BusinessDesk) - Fonterra Cooperative Group expects to slice $800 million from its debt ledger through the sale of assets already signalled for the block. The world's biggest dairy exporter is strengthening its balance sheet as part of its wider strategic review. That's included the divestment of a range of assets no longer deemed central to the cooperative's future, the latest of which was a 50 percent stake in DFE Pharma - a joint venture with FrieslandCampina which supplies bulking agents, or excipients, in med...

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