Fonterra now has $1 billion available for debt reduction

Tue, 24 Sep 2019

By Rebecca Howard Sept. 25 (BusinessDesk) - Fonterra Cooperative Group said it has agreed to sell its 50 percent stake in DFE Pharma for $633 million and now has over $1 billion available to repay debt. Fonterra is in the midst of a cooperative-wide strategic review after reporting its first loss in the year ended July 31, 2018 and is poised to report its second annual loss tomorrow. In August, it scrapped its dividend as it slashed the carrying value of assets around the world and signalled it expects to report a loss of $590-675 mill...

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