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Home / Business

Continuous Disclosure: Fonterra tipped to sell more assets

NZ Herald
19 Mar, 2019 02:46 AM5 mins to read

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Fonterra CEO Miles Hurrell faces the media after announcing a net loss of $196 million. Photograph by Dean Purcell.

Fonterra CEO Miles Hurrell faces the media after announcing a net loss of $196 million. Photograph by Dean Purcell.

Continuous Disclosure is a market news column, including analysis and opinion. Edited by Duncan Bridgeman, Tamsyn Parker and Jamie Gray.

Fonterra tipped to sell more assets
Fonterra is poised to announce more details of its strategic review and may be planning to pull out of South America, sources say.
target="_blank">Click here for more

Govt calls off $10m loan to Westland
The Government won't be lending nearly $10 million to struggling Westland Milk Products, following news it is likely to be sold to a Chinese company.
Click here for more.

HK's First Pacific takes a bath on Goodman Sale
Hong Kong investment company First Pacific has taken a US$280m ($408m) bath on the sale of its half share in Australasian food group, Goodman Fielder.
Click here for more

Moutter attack the perfect distraction for Jones
Shane Jones' attack on Simon Moutter could be viewed as his latest dig at corporate New Zealand or as a clever distraction from the furore over his Provincial Growth Fund.
Click here for more

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Longer wait for Restaurant Brands' payout
Restaurant Brands shareholders who sold shares into the offer by Mexican investor Finaccess for 75 per cent of the company have a longer wait to be paid after the offer period was extended at the last minute.
Click here for more

Axe-throwing send off for new RBNZ man
Soon to be assistant governor of the Reserve Bank Christian Hawkesby was given an unusual send-off by former colleagues at fund manager Harbour Asset Management.
Click here for more

Mexican firm closes in on Restaurant Brands
Mexican investor Finaccess Capital has secured just over 60 per cent of Restaurant Brands' shares with a few hours left until its partial takeover offer closes. The question is when will shareholders be paid?
Click here for more

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NAB taps Southern Man for chair
He once spent three and a-half years working as a midnight-to-dawn disc jockey at Dunedin's 4XO radio station. Now he's chairman of BNZ parent National Australia Bank.
Click here for more

Tip Top sale problematic
Bids close on Monday for Fonterra's Tip Top ice cream business but the sale process has been anything but smooth, according to sources close to the company.
Click here for more

Is Sky TV heading for the sunset?
"It really is a difficult equation for Sky TV as to what they do from here," says one influential fund manager.
Click here for more

McCashin's pulls out of Veritas deal
McCashin's Brewery won't take a cornerstone stake in food and beverage investor Veritas Investments, backing out of an option to buy a near-20 per cent stake at a hefty premium.
Click here for more

Discover more

Business

Yili-Westland Milk deal - What the average farmer will get

19 Mar 04:00 PM
Business

Fonterra back in black, signals sale of European joint venture

19 Feb 07:57 PM
Business

Winds of change sweep through Fonterra

21 Mar 09:22 PM
Agribusiness

Hang on, is that a plain speaking interim report?

21 Mar 08:34 PM

Mobi2Go raises $5m
Wellington-based Mobi2Go, which specialises in online ordering solutions for the hospitality sector, has raised $5 million from a funding round led by New Zealand technology venture capital specialist, Movac.
Click here for more

Another Hrdlicka share sale looms
A2 Milk chief executive Jayne Hrdlicka caused a stir on the sharemarket last year with the sale of her shares in the company and it's looking likely that there will another sale in August.
Click here for more

ASX appoints first man on the ground
A Kiwi returning home will the first man on the ground at a new Auckland office being opened by the ASX.
Click here for more

Blackstone seeks buyer for Burger King franchise
American private equity firm Blackstone is on the hunt for a buyer to take over the Burger King New Zealand franchise. Deutsche Craigs has been hired to run an auction for the fast food business.
Click here for more

Reporting season winners and losers
The listed company reporting season is nearly finished and already some have declared the early winners and losers. Which companies knocked it out of the park and which flopped?
Click here for more

Big companies wean off bank debt
Higher interest rates and more cautious banks are driving New Zealand's biggest listed companies to look elsewhere for funding. A new report finds just seven of the top 25 listed companies on the NZX are entirely reliant on bank funding.
Click here for more

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Vodafone a value stock, Paris says
Vodafone NZ might be poised to fill a Xero-size whole in the NZX, but it will be a very different type of stock, despite the pair both being in the technology business. Chief executive Jason Paris opens up about the planned IPO.
Click here for more

Xero to make hay from law change
ASX-listed Xero is poised to make hay from a law change across the Tasman, that will require some 700,000 small businesses to adopt a single-touch payroll solution by the start of the country's new tax year on July 1. The change has analysts sharpening their pencils.
Click here for more

AA ditches Kiwi bank
The Automobile Association has entered into a third joint venture with Australian insurance giant Suncorp, ditching Heartland Bank in the process.
Click here for more

Fonterra takes back Darnum
Fonterra has officially unwound its joint venture with Chinese company Beingmate, taking back full ownership of the Darnum manufacturing plant in Australia. While the exact terms of the separation haven't been revealed, a Fonterra spokeswoman says the deal had been structured to ensure no cash was paid by the Kiwi co-operative to Beingmate.
Click here for more

Click here for previous Continuous Disclosure stories.

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