Ann: ASSET: FCG: Fonterra sells Bega shareholding

• Release Date: 02/11/15 08:34
• Summary: ASSET: FCG: Fonterra sells Bega shareholding
• Price Sensitive: No
• Download Document  1.16KB

					FCG
02/11/2015 08:34
ASSET
NOT PRICE SENSITIVE
REL: 0834 HRS Fonterra Co-operative Group Limited

ASSET: FCG: Fonterra sells Bega shareholding

Fonterra Co-operative Group Limited has announced the sale of its nine per
cent shareholding in Bega Cheese Limited.

The Co-operative purchased its shareholding in 2013.

Chief Financial Officer Lukas Paravicini said: "We are focused on investing
in higher value add dairy products that deliver the best returns for our
shareholders. Releasing capital, such as through this sale, for future growth
is the best use of our shareholders' funds."

The sale of Fonterra's shareholding has no implications for its long-standing
relationship with Bega, which includes a license on the Bega brand and a
supply contract for cheese.

"The Bega brand has an important role in our cheese portfolio where we are a
market leader, and we will continue to build on our relationship with Bega
which goes back more than a decade."

Fonterra's shareholding has been sold for AU$74 million.

-ENDS-

For further information contact:
Simon Till
Director Capital Markets
Phone: +64 21 777807
End CA:00272646 For:FCG    Type:ASSET      Time:2015-11-02 08:34:45