Dairy Farmers, one of Australia’s largest dairy groups, will send out an information memorandum to prospective buyers next month, according to local reports.
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The company, which is looking to turn its business from a co-operative to an FMCG company, has been mulling whether to float on the Australian Stock Exchange (ASX) next June.
A report in the Australian Financial Review today (19 December) said Dairy Farmers’ plan to issue a memorandum confirms its plans for a sale.
The report said Dairy Farmers would command a price tag of A$630m-1.05bn (US$540-900m) and would attract interest from the likes of Fonterra, Goodman Fielder and Japan’s Kirin Holdings.
The report added that Dairy Farmers may also consider merging with Parmalat’s Australian business and floating the enlarged company on the ASX.
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By GlobalDataOfficials at Dairy Farmers could not be reached for immediate comment.
