Royal FrieslandCampina lifts stake in Synlait Milk to 9.999 percent buying shares at $3.85 apiece

Wed, 19 Mar 2014

March 20 (BusinessDesk) - Royal FrieslandCampina has lifted its stake in Synlait Milk to 9.999 percent from 7.5 percent, adding to an investment that has gained 41 percent since its NZX debut last July. The Netherlands-based cooperative bought about 3.66 million shares at $3.85 each yesterday, according to a statement to the NZX. The shares last traded at $3.87, having sold in Synlait’s initial public offering last year at $2.20 apiece. The purchase puts the Dutch company, where the current Fonterra chief executive Theo Spierings was a senior...

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