Synlait’s $130m loan decision day approaches

Synlait's Dunsandel site is where the special meeting will be held on Thursday. (Image: NZME)

Mon, 08 Jul 2024

The future of Synlait Milk hangs in the balance this week as shareholders prepare to vote on whether to seize a financial lifeline from its long-time backer. If the vote to accept a $130 million loan from Bright Dairy fails, the country’s third-largest dairy processor will likely collapse.As of late last week, The a2 Milk Company, which is Synlait's second-largest shareholder and holds 33% of the eligible voting shares, had given no indication on which way it would cast its vote at the meeting being held at Synlait’s flagsh...

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