Fonterra listing seeks to raise NZ$500m
The Financial Times of London quotes Coriolis Director Tim Morris on the sale of units in the Fonterra Shareholders’ Fund:
“Fonterra has become so big that it’s outgrown New Zealand,” says Tim Morris of Auckland-based consultants Coriolis. “So the imperative to expand is there. But what is Fonterra’s job? To collect and sell milk for its farmers, or become a branded food company?”
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