Fonterra Co-operative Group Ltd and Nestlé S.A. sold company JV <5> to Lactalis

This strategic step allows Fonterra Co-operative Group Ltd to use the income for repayment of the debt connected with sold business that leads to the minimum monetary influence on profit of Fonterra Co-operative Group Ltd. However the negative balance of a reserve on recalculation of foreign currency (FCTR) of about $70 million, Fonterra Co-operative Group Ltd an asset of German information company Brazil, will be reflected as reclassification of the non-monetary account in the profit and loss report of Fonterra Co-operative Group Ltd. Within joint venture of Fonterra Co-operative Group Ltd owned 51% of actions, and Nestlé S.A. - the remained 49%. Director general Fonterra Co-operative Group Ltd Kharrell Maylz emphasizes that sale coincides...