Fonterra won’t bid for Tasmanian farms as focus stays on factories

Tue, 25 Sep 2012

By Paul McBeth Sept. 26 (BusinessDesk) - New Plymouth-owned Tasman Farms, Van Diemen's Land Co's parent, wants to raise up to A$180 million, with at least A$100 million in fresh equity, and has attracted potential suitor from China, but won't see Fonterra Cooperative Group at the negotiating table. The New Zealand dairy exporter, which reports its annual results today, won't invest in the Tasmanian farm upgrade, which has reportedly attracted interest from China Investment Corp, the US$200 billion sovereign wealth fund. "Fonterra has a very...

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