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Govt response to Fonterra announcement

Hon Jim Anderton

Minister of Agriculture, Minister for Biosecurity
Minister of Fisheries, Minister of Forestry
Associate Minister of Health
Associate Minister for Tertiary Education

Progressive Leader

15 November 2007 Media Statement

Govt response to Fonterra announcement

Agriculture Minister Jim Anderton said today that the government will be following closely Fonterra’s discussions with its shareholders about its capital structure.

Jim Anderton said that any change to the capital structure would need to be approved by shareholders before Fonterra approached Parliament for legislation to implement a change.

“Fonterra has developed a proposal with mechanisms which ensure that there is continued New Zealand ownership of Fonterra and that it has the capital it needs for international growth.

“Should the proposal be approved by shareholders, the government is prepared to advance legislation in Parliament to implement that decision,” Jim Anderton said.

ENDS

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