Westland

Shareholder farmers in the former coop have received a cash payment of NZ$3.41 (US$2.24) per share, a 10-year guaranteed competitive milk payout, and guarantees all milk will be collected.

Done deal: Westland takeover by Yili completed

By Jim Cornall

China’s Yili Group has completed the purchase of all of the shares in New Zealand’s Westland Co-operative Dairy Company after final details of the sale were completed today.

Westland ceases to be a cooperative after being bought by Yili.

Yili takeover of Westland gets court approval

By Jim Cornall

On Thursday, the High Court of New Zealand gave approval to the takeover of the Westland Co-operative Dairy Company by Yili subsidiary, Hongkong Jingang Trade Holding Co., Ltd.

Westland chairman Pete Morrison said that while Westland will cease to be a cooperative, the board believed the proposed deal is the best outcome for shareholders.

Westland no longer a cooperative as shareholders support Yili deal

By Jim Cornall

Shareholders of New Zealand Westland Co-Operative Dairy Company Limited have overwhelmingly voted in favor of the Scheme of Arrangement under which shares in Westland are to be acquired by Jingang, a wholly owned subsidiary of Inner Mongolia Yili Industrial...