Fonterra shareholders approve capital return scheme

(Image: Getty)

Wed, 26 Jul 2023

Fonterra shareholders approved the scheme of arrangement for the return of approximately $800 million of capital to shareholders.Of the total shareholder votes cast, 99.24% were in favour.In November 2022, Fonterra announced it had sold its Chilean Soprole business to Gloria Foods in a deal worth about $1 billion.Fonterra said the proceeds would be subject to relevant adjustments including capital gains tax, working capital and net debt adjustments at closing, foreign exchange hedging costs, and other transaction-related costs.A...

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