Fonterra’s chief executive comments on the overwhelming YES vote from Fonterra farmer shareholders to sell the consumer brands business to Lactalis. The deal was expected to deliver a tax-free capital return of about $3.2 billion to 8000-plus shareholding farms throughout New Zealand. The average return to farmer shareholders would be around $392,000. That’s about 0.7% of GDP. But not everybody’s happy. Just ask Winston!
See omnystudio.com/listener for privacy information.
