New Plymouth Council fund sells Australia's largest dairy farm for A$250M

Tue, 10 Nov 2015

By Jonathan Underhill Nov. 10 (BusinessDesk) - New Plymouth District Council will end up owning about 19 percent of an ASX-listed dairy products company as part of a deal that will see its investment fund sell Van Diemen's Land, Australia's biggest milk supplier, for a profit and allocate the net proceeds into other assets. Taranaki Investment Management, the perpetual investment fund owned by New Plymouth District Council, has agreed to sell the Tasmanian dairy business to ASX-listed shell company OnCard International for A$250 million....

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