Mainland Group sale to Lactalis for $4.22bn now unconditional
Late last year, Fonterra’s farmer shareholders gave the go-ahead for the co-operative to sell its global consumer and associated businesses, Mainland Group, to Lactalis for $4.22 billion.
It was confirmed on Friday that the agreement to sell Mainland Group to Lactalis is now unconditional.
All required regulatory approvals have been received and the separation of Mainland Group from Fonterra is complete.
With all conditions of the sale satisfied, Fonterra and Lactalis will now proceed to complete the transaction.
In February, Fonterra shareholders voted to approve a capital return of $2.00 per share to shareholders and unitholders following completion of the transaction.
Fonterra will confirm the capital return record date and payment date when the transaction completes.
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