Two Major NZ Dairy Deals Completed
Two major acquisitions in the New Zealand dairy sector were completed this week.
The listed company recently decided to offload two cheese companies it had only purchased two years ago.
Now, the biggest shareholder - Bright Dairy of China - is ringing changes to its board representatives. It's replacing two of its four board members. Bright Dairy owns 39% of Synlait and the company's financial woes in recent years would be concerning to the Chinese conglomerate.
The company's two new board members will be chief financial officer Liu 'Ryan' Ruibing and vice president Zhu 'Julia' Yi. It has four seats on the Synlait board.
