Fonterra buys out minority in Chilean milk processor

Thu, 19 Dec 2019

Fonterra Cooperative Group has all but taken over its Prolesur milk processing business in Chile, buying out its minority shareholder, Fundacion Isabel Aninat. The New Zealand cooperative paid $29.3 million for Fundacion’s 13.6 percent stake, meaning Fonterra now owns 99.9 percent of Prolesur with the remaining 0.17% owned by about 600 other shareholders. The Chilean milk processor sells most of its production to local consumer business Soprole, of which it owns 99.9 percent. Kelvin Wickham, Fonterra chief executive of Africa, Middle East...

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