Fonterra's farming foray in China nearly at an end

Fonterra’s share of the loss of the Falcon China Farms JV for the year to July 31 2020 was $12m. (Image: Fonterra)

Mon, 28 Jun 2021

Fonterra will claw back $88 million from the sale of its two joint venture farms in China, with the sale expected to be completed on June 30.The farms in Shandong province will be sold to Singapore-based AustAsia Investment Holdings for US$115.5m, it said in a statement to the stock exchange.Fonterra, which owns the farms with joint venture partner Abbott Laboratories, has a 51% stake in the business.Fonterra’s share of the loss of the Falcon China Farms JV for the year to July 31 2020 was $12m. It also took a $65m impairment in that fina...

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