Salem Radio Network News Tuesday, August 3, 2021

Business

New Zealand’s Fonterra drawing up revised capital restructure proposal

(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.

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Peter Cooney)

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