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Fonterra to Divest Share in Dairy Technical Services
18 April 2016
Fonterra to Divest Share in Dairy Technical
Services
Fonterra Australia has today announced it has
signed an agreement to divest its shareholding (36.02 per
cent) in Dairy Technical Services (DTS) to a consortium
comprising Bureau Veritas Singapore and AsureQuality
Limited.
DTS was originally set up as a cooperative testing service company for dairy companies in Victoria, and its other shareholders are The Warrnambool Cheese and Butter Group, Murray Goulburn and AsureQuality.
As a result of this sale, Bureau Veritas Singapore and AsureQuality Limited will own all shares in DTS.
The sale, which is conditional on regulatory approvals, is expected to be completed by the end of May 2016.
Together, the new owners of DTS will bring extensive international testing experience to the Australian dairy and food industry, and will continue to provide testing services to Fonterra.
ENDS
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