Fonterra’s China farms sale claws back half its $1b investment

Mon, 05 Oct 2020

Fonterra will recover more than half the $1 billion sunk into its China farms after agreeing to sell most of them for $555 million.The country’s biggest dairy company said it will sell two farming hubs in Ying and Yutian for $513 million to Inner Mongolia Natural Dairy Co, a subsidiary of China Youran Dairy Group.Separately, it stands to get another $42 million from the sale of its 85 percent interest in its Hangu farm to junior partner Beijing Sanyuan Venture Capital Co, which exercised its right of first refusal.Fonterra signalled the d...

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