Fonterra provides update on divestment of Soprole

Fonterra has announced that they have received approval from the Chilean competition authority, Fiscalía Nacional Económica, for the sale of its Chilean Soprole business to Gloria Foods - JORB S.A. The completion of the sale remains subject to the satisfaction of other conditions and is expected to result in a significant capital return to Fonterra shareholders and unitholders.

The Fonterra Board intends to make a final decision on the amount and timing of any capital return once the sale agreement is unconditional.