date:Dec 23, 2019
Fonterra has increased its ownership in milk processor Prolesur as it looks to streamline its operations in Chile.
The New Zealand-based co-operative has acquired a further 13.6% shareholding for NZD$29.3 million in Prolesur held by Fundacin Isabel Aninat. This brings its total ownership from 86.2% to 99.9%.
Processing milk in southern Chile, Prolesur sells most of its production to Soprole, a consumer branded dairy company in Chile 99.9% owned by Fonterra.
Fonterra CEO AMENA Kelvin Wickham s