Tuesday, 25 January 2022 11:30

Forrest moves into milk

Written by  Milking It

OPINION: Australia's richest man Andrew Forrest has quietly bought a 6.6% stake in one of the country's biggest milk processors, Bega Cheese.

One of his companies, Tattarang AgriFood Investments, purchased more than 20 million shares in Bega Cheese this week for about A$108 million on New Year's eve.

There is speculation over the ditch that Bega could launch a takeover bid for Fonterra's Australian business, which is under review and could end up on the chopping block.

Bega would have to borrow to pay for an offer for Fonterra, but with Forrest as a cornerstone shareholder, raising the money may not be a problem.

More like this

It's all about economics

OPINION: According to media reports, the eye-watering price of butter has prompted Finance Minister Nicola Willis to ask for a 'please explain' from her former employer Fonterra.

Red line on dairy

OPINION: As India negotiates to open its borders to more global products, dairy is proving a sticky issue.

Farmland security

OPINION: Paranoia about foreigners is at an all-time high in the US and attention is now turning to foreign-owned farmland.

Featured

Editorial: Right call

OPINION: Public pressure has led to Canterbury Police rightly rolling back its proposed restructure that would have seen several rural police stations closed in favour of centralised hubs.

National

Machinery & Products

New McHale terra drive axle option

Well-known for its Fusion baler wrapper combination, Irish manufacturer McHale has launched an interesting option at the recent Irish Ploughing…

Amazone unveils flagship spreader

With the price of fertiliser still significantly higher than 2024, there is an increased onus on ensuring its spread accurately at…

» Latest Print Issues Online

Milking It

Fonterra vote

OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.

Follow the police beat

OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter