Fonterra has today completed the sale of its two wholly owned China farming hubs in Ying and Yutian. As announced in October 2020, the sale of the farms to Inner Mongolia Youran Dairy Co., Ltd (Youran) was subject to anti-trust clearance and other regulatory approvals in China. These approvals have now been received.
The transaction proceeds comprise the original sale price of NZD $513 million plus NZD $39 million in settlement adjustments, giving cash proceeds of NZD $552 million.
