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Synlait Milk
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Synlait sells assets to Abbott for US$178M to reduce debt
This endorsement effectively satisfied the shareholder approval condition, moving the debt-laden company away from a precarious financial edge and towards operational simplicity.
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Synlait Milk secures US$28.34M to bolster its financial liquidity
This move, which establishes a new revolving credit facility, is set to run from November 14th until the end of next March.
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Synlait Milk divests its North Island Dairy Assets to US Customer Abbott for US$177.5M
The sale will include the company’s Pōkeno factory, a blending and canning facility in Auckland, a warehouse facility, and associated inventory and leasehold arrangements.
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Paul Mallard to step down as Synlait Milk’s COO
Mallard joined Synlait in 2023, initially serving as Director of Strategy and Corporate Affairs before taking on the COO role in June of that year.
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Synlait Milk secures future supply as farmer confidence grows
Synlait’s focus on rebuilding trust with its suppliers has been a critical step in its recovery plan.
