Fonterra to Assess IPO as One Option for Consumer Unit Sale [Yahoo! Finance Canada]
NESTLE S.A S/ADR (NSRGY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg “We have assessed both a trade sale and IPO as attractive divestment options and will now prepare for a sale process which will pursue both options,” Chief Executive Office Miles Hurrell said Monday in Auckland. The company “continues to target a significant capital return to be made to farmer shareholders and unit holders following the divestment,” he said. Fonterra announced in May it was considering turning away from branded consumer products to concentrate on making more high-value ingredients derived from New Zealand milk that it sells to other companies like Nestle SA, Mars and Coca Cola. A report last week suggested it may return NZ$3 billion ($1.8 billion) to its roughly 8,300 shareholding farms if a full exit was achieved. The businesses, which include consumer brands such as Anchor, Anlene and Mainland as well as Fonterra Oceania and Fonterra Sri Lanka, together account for about a fifth of Fonterra's revenue. Hurrell said the company has re
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