Fonterra Shareholders’ Fund announced divestment of Chile business

Fonterra Shareholders' Fund (ASX: FSF) declared that they are divesting its Chilean Soprole business. This divestment included several transactions that resulted in aggregate consideration of 591.07 billion Chilean Pesos.

“A key pillar of our strategy is to focus on New Zealand milk. Soprole is a very good business but does not rely on New Zealand milk or expertise. We are now at the end of the divestment process and have agreed to sell Soprole to Gloria Foods - JORB S.A. (Gloria Foods).”

Funds from divestment will be used for relevant adjustments, including capital gains tax, working capital and net debt adjustments at closing, foreign exchange hedging costs, and other transaction-related costs.

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