Hon Jim Anderton

Member of Parliament for Wigram
Progressive Leader

18 September 2009
Media Statement

Fonterra capital restructuring

The Opposition will be listening very carefully to farmer comment about the proposals, agriculture spokesperson Jim Anderton says.

"New proposals for Fonterra's capital restructuring appear to provide more stability for Fonterra and avoid the trap of opening the back door to overseas ownership.

"It's difficult to balance the ambition of a global multinational with the benefits of a cooperative structure, and if farmers accept the latest proposal then it will be a good sign for the future of Fonterra and of our dairy company that the right balance has been reached.

"But the government should be careful not to bully farmers into the deal. Farmers know better than the government what is best for their own businesses. Government's role is to help where it can make a difference and step in when wider community interests are at stake. It shouldn't replace farmers' own judgments about the best capital structure for them, when farmers have legitimate interests to look out for."

ENDS

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