Fonterra’s response to Tasmanian farm purchase reports
The dairy giant is reportedly poised to buy a large group of Tasmanian dairy farms – and may even take on a Chinese partner in the deal.
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Hawke’s Bay
Dairy giant Fonterra is not commenting on news reports it’s about to buy a large group of Tasmanian dairy farms in a deal worth $A200 million.
As reported by NBR ONLINE earlier today, an Australian media report says Fonterra is poised to buy Van Diemen’s Land and its 25 dairy farms in northwest Tasmania – which are owned by the New Plymouth District Council.
The proposed $A200 million farm deal could involve China Investment Corporation as a potential partner for Fonterra, the report said.
In an emailed statement, Fonterra’s group director of communication Kerry Underhill says: "Fonterra never comments on whether or not it is involved in specific transactions."
Fonterra, New Zealand's biggest company and the world's biggest dairy exporter, is still recovering from the botulism false alarm, which sparked government inquiries and caused product recalls and temporary bans on the company's products in some countries.
As reported yesterday, the government has set up a $2 million fund for small and medium sized exporters whose business has been caught up in the Fonterra false food scare.
By late this afternoon, Fonterra's shareholders' fund units (NZX: FSF), which floated last year, were trading at $6.98 – down 0.7% this year.
NBR Online staff
Thu, 12 Sep 2013
Thu, 12 Sep 2013
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Fonterra’s response to Tasmanian farm purchase reports
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