The dairy cooperative says cash from the sale, along with proceeds from other asset sales like Tip Top, will provide more than one billion dollars for debt reduction.

Fonterra is due to release its annual results tomorrow.

>> More Rural News

Other Rural News

31 Oct: Chris Luxon is defending Fonterra farmers, who've faced a scathing critique from Winston Peters

30 Oct: There are no guarantees Anchor, Mainland and Kapiti products will always be made with New Zealand dairy

30 Oct: Plenty at stake for Fonterra farmers, as they weigh up whether to sell the co-op's consumer brands

24 Oct: A senior analyst believes the sale of Fonterra's brands wouldn't be just a short term sugar hit

24 Oct: A belief the sale of Fonterra will benefit the sectors adjacent to the farming industry

22 Oct: Fonterra's announced a 75-million-dollar investment to expand butter production at its South Canterbury Clandeboye site

20 Oct: The Prime Minister's in favour of Fonterra's selling Anchor, Mainland and Kapiti - but says it's not his decision

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