New Zealand’s Fonterra drawing up revised capital restructure proposal By Reuters

July 18, 2021 admin Stock News 0

© Reuters. FILE PHOTO: A Fonterra milk tanker drives past dairy cows as it arrives at Fonterra’s Te Rapa plant near Hamilton, New Zealand August 6, 2013. REUTERS/Nigel Marple/File Photo/File Photo

(Reuters) – Fonterra Co-operative Group Ltd said on Monday it was drawing up a revised proposal to an overhaul of its capital structure that the dairy company proposed in May after completing the first phase of talks with its farmer shareholders.

The world’s top dairy exporter said it was considering a number of changes, including adjusting the minimum shareholding requirements for farmers to 33% of milk supply, rather than the 25% initially proposed.

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