Fonterra sells China Farms for $514m
James FernyhoughReporter
Updated
New Zealand dairy giant Fonterra has sold its China Farms business for $NZ555 million ($514 million) to pay down debt and focus on domestic producers.
The sale, which follows two years of losses, included the sale of two farming hubs in Ying and Yutian in northern China to Inner Mongolia Natural Dairy Co, a subsidiary of Chinese milk giant China Youran Dairy Group, for $NZ513 million.
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