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

28 Mar: During the coronavirus lockdown many farmers are still struggling with Mycoplasma bovis

24 Mar: Heightened health protocols will cause only minor hold-ups to Fonterra's milk operations through the four-week lockdown

18 Mar: Fonterra says demand's still strong for dairy in China, as it weathers its Covid-19 outbreak

05 Mar: Longstanding Fonterra chairman, John Monaghan, is stepping down from the dairy co-operative's board

19 Feb: The coronavirus outbreak is continuing to push down global dairy prices

05 Feb: Global dairy prices have taken a hit, following the outbreak of the deadly coronavirus in China

15 Jan: The Revenue Minister says he's asked officials to look at the tax issues around Mycoplasma bovis

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