Fonterra needs to convince shareholders it will have
completed its capital restructuring when it starts
consultation on the third and final stage of the process this
Fonterra will next week start consulting shareholders on the
final stage of its capital restructuring, the trading of
shares between farmers, amid allegations from a competitor
its implementation could have trade implications.
Dairy Equity has lowered the price of its remaining
investments in Fonterra fair value shares as it winds up the
Fonterra shareholders could be about to receive the
second-highest payout in the dairy company's history if
markets stay at current levels.
Dairy giant Fonterra's half year revenue has dropped 3.7%,
dragged down by lower prices but offset by an increase in
The dramatic recovery in world dairy prices is expected to be
reflected in a much healthier interim financial result to be
announced by Fonterra this morning.
Dairy industry leaders have put farmers on notice to lift
their game after a damning report showed many have
substandard effluent management systems.
An environmental lobbyist says dairying is getting dirtier
and the Government should intervene and set easily-enforced
standards to fight contamination of waterways and
Fonterra plans to stop making cheese at its Longburn plant
near Palmerston North, and says other jobs at the site will
only be available for 15 of the 35 people being laid off.
International credit agency Fitch Ratings today affirmed
Fonterra's long-term issuer default rating (IDR) at "AA-" and
short-term IDR at "F1+", with a stable outlook.
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