Synlait shareholder Bright Dairy 'digging its heels in' on Dunsandel plant

Synlait's Dunsandel plant is the jewel in its crown. (Image: Synlait)

Wed, 05 Jun 2024

Synlait’s major shareholder Bright Dairy is digging its heels in and sees a pathway out of the company’s financial troubles holding onto the Dunsandel plant, an analyst says. On Monday, the debt-laden dairy processor said its 39% Chinese shareholder, Bright Dairy, would loan it $130 million for a looming debt repayment, subject to approvals, including from its shareholders. The company told markets most of its farmer suppliers had issued two-year notices to leave, and it reiterated it had Bright Dairy’s backing for a...

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