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Fonterra sells stake in DairiConcepts

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Fonterra will sell its 50% stake in U.S. joint venture DairiConcepts for around 196 million New Zealand dollars (US$126 million), but said the country remains a key part of its global strategy.

Fonterra’s stake sale – due to take place at the end of this year – means Dairy Farmers of America will fully own the DairiConcepts venture, which was established 15 years ago.

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