New Zealand dairy co-op Fonterra is selling its two farming hubs and a majority stake in another farm in China to local interests for NZ$555 million to pay down its debts.
Fonterra’s two farming hubs in Yutian County, Hebei Province and Ying County, Shanxi Province will be purchased by Inner Mongolia Natural Dairy Co., a subsidiary of China Youran Dairy Group Limited. The sale is pending anti-trust and regulatory approvals in China and is due to be completed within this financial year.
