Synlait may sell Pokeno as it struggles under debt mountain

Asset sales are the best return for shareholders, Synlait says. (Image: Synlait)

Tue, 02 Apr 2024

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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