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Company News

NZ's a2 Milk offers $252 mln for majority stake in Mataura Valley Milk

Aug 21 (Reuters) - New Zealand’s a2 Milk Co said on Friday it made a non-binding offer to buy a 75.1% stake in dairy nutrition company Mataura Valley Milk in a NZ$385 million ($252 million) deal.

The dairy producer said the offer was a result of talks to participate in manufacturing at Mataura’s Southland facility, adding it had been granted exclusivity to conduct due diligence for a potential deal. ($1 = 1.5293 New Zealand dollars) (Reporting by Yajush Gupta in Bengaluru; Editing by Shinjini Ganguli)

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