Synlait needs 'influential' a2's support for Bright Dairy lifeline

Synlait has revealed fresh detail about its $130m loan; it will pay 8% yearly interest. (Image: NZME)

Tue, 25 Jun 2024

Struggling dairy manufacturer Synlait says it doesn’t know whether “influential” shareholder a2 Milk will vote in favour of a $130 million lifeline from its major Chinese shareholder. The company said Tuesday that a2’s vote would be influential in deciding if the critical shareholder loan needed to pay off bank debt due July 15 went ahead. It said without the loan from an associated company of its largest shareholder, Bright Dairy, its board’s view was that Synlait would need to cease trading or...

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