Fonterra has conditional agreement to buy out Saudi JV partner

Fonterra Cooperative Group, the world’s biggest exporter of dairy products, has conditional agreement to purchase the remaining 51% of its Saudi Arabian joint venture from its partner.

Fonterra is still in talks with Saudi Dairy & Foodstuff, known as Sadafco, to acquire the remainder of their JV Saudi New Zealand Dairy Products, said the cooperative’s general manager for strategy, Simon O’Connor.

Settlement is expected in early January, he said. No price was given.

Saudi Arabia and the United Arab Emirates are Fonterra’s fastest growing markets in the Middle East, accounting for 60% of its business in the Gulf region, according to its website.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

HGH - Heartland 2026 Annual General Meeting
WHS provides FY27 first quarter trading update
AIA - successfully completes new A$300 million AMTN issue
November 13th Morning Report
SPK - Response to open letter regarding FY26 financial statements
HGH - Update on proposed TSB transaction target completion date
MFT - Mainfreight Half Year Financial Results 30 September 2026
MCY - Executive leadership team changes
November 12th Morning Report
GTK - FY26 Investor Briefing Details