Rural Equities switches some milk supply to Synlait from Fonterra, sells shares

Mon, 24 Jun 2013

June 25 (BusinessDesk) - Rural Equities will switch about one third of its milk supply to Synlait Milk from Fonterra Cooperative Group, allowing the farming group controlled by the Cushing family to shed about half its shares in New Zealand’s biggest company. Rural Equities, whose shares trade on the Unlisted platform, said after a review of options for processing milk from its six dairy farms, its two farms in Canterbury would supply Synlait in the season that started on June 1. The remaining four farms, in Taranaki, Manawatu and Southland...

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