Synlait may sell Pokeno as it struggles under debt mountain

Synlait may sell Pokeno as it struggles under debt mountain
Asset sales are the best return for shareholders, Synlait says. (Image: Synlait)
Rebecca Stevenson
Debt-laden Synlait may sell its “world-class” Pokeno plant as it faces up to $514 million in debt it must pay back in the next 12 months. The New Zealand stock exchange-listed (NZX) milk company said Tuesday that its low share price meant it should sell assets to produce maximum value for shareholders, and it would undertake a strategic asset review, including its North Island assets. Synlait said it was facing material uncertainty “in respect of the timings and outcomes of various deleveraging options which are curr...

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