China’s largest milk powder maker, Shijiazhuang Sanlu Group, is reportedly nearing a deal to sell a 39% stake in Sanlu to New Zealand dairy giant Fonterra.

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The two companies are in the final round of negotiations, but the purchase price has not yet been decided, reported the Business Daily Update, citing a Sanlu official.


If the deal goes ahead, Fonterra will become the second-largest shareholder of Sanlu after Shijiazhuang Dairy Group.


Asia is Fonterra’s main export market, with Japan and the Philippines two of the main destinations for Fonterra’s dairy products.

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