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flag Fonterra’s farmers approve $3.2B capital return after selling consumer business to Lactalis, with payout pending 2026 regulatory approval.

flag Fonterra’s farmer shareholders have approved a $2-per-share capital return, totaling about $3.2 billion, following the $4.22 billion sale of its Mainland consumer business to French company Lactalis. flag The plan passed with 98.85% support, exceeding the required threshold. flag The tax-free payout will be made once the deal closes, expected in the first quarter of 2026, after final regulatory approvals. flag Proceeds will also fund a $1 billion investment in Fonterra’s ingredients and foodservice operations.

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