A2 Milk ensured Synlait's survival but its future lies elsewhere

Synlait chair George Adams says he has a good relationship with his a2 counterpart, Pip Greenwood. (Image: NZME)

Fri, 20 Sep 2024

Fri, 20 Sep 2024

Synlait Milk is off life support after a cash infusion from its two largest shareholders, Bright Dairy and a2.While it is now in a more stable condition, its prognosis is still uncertain.On Wednesday, Synlait shareholders voted overwhelmingly to approve a much-needed $217.8 million capital raise from the two shareholders, which will allow the company to deleverage its debt-laden balance sheet. Synlait made it through a $130m loan due day in July after Bright Dairy took a bank loan to cover the NZ milk manufacturer’s debt. Synlai...

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