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Murray Goulburn farmers vote in favour of selling to Canadian dairy giant Saputo :: The Bullvine - The Dairy Information You Want To Know When You Need It
Murray Goulburn farmers vote in favour of selling to Canadian dairy giant Saputo
Friday,April6th,2018
The once-mighty farmer-owned pillar of the Australian dairy industry, Murray Goulburn, has completed its demise after shareholders voted to sell it to Canadian dairy superpower, Saputo.
An overwhelming majority of 98.16 per cent of proxy votes elected for the sale of Murray Goulburn’s assets, the main pillar of the four resolutions to be voted on in Melbourne today.
The vote was for the sale of Murray Goulburn assets to Saputo, which will take over all the factories, staff and equipment owned by Murray Goulburn.
Murray Goulburn will keep $200 million to pay for legal costs and to pay out current legal action being taken against it and its management for its behaviour during the dairy crisis.
Defeated farmers who were against the sale now see it as the only opportunity to leave the former Australian dairy giant with dignity.
“I think as farmers we know what’s best,” Karinjeet Singh-Mahil, who farms at Crossley near Warrnambool, said.
The once-mighty farmer-owned pillar of the Australian dairy industry, Murray Goulburn, has completed its demise after shareholders voted to sell it to Canadian dairy superpower, Saputo.
