Speculations and tendentious assertions have generated media headlines in recent hours The third in which it is announced that the New Zealand company Fonterra is making progress in its departure from Chile, through the sale of its operation in our country, Soprole.
What is specifically for sale is Soprole Inversiones SA, the controlling company of Soprole and Prolesur, and which in turn is managed by Dairy Enterprises SA, which owns 99.85% of the shares, which corresponds to 100% of the Fonterra aforementioned.
This has motivated sectors of the right to fancifully link Fonterra’s departure from Chile to the arrival in the government of Gabriel Boric or the eventual approval of a new Constitution.
However, the truth is that in the same note from the aforementioned media, the reasons why the New Zealander is selling the Chilean Soprole are clearly stated: “The purpose behind this is to focus and boost Fonterra’s business in New Zealand”precise The third.
In fact, the article quotes the company’s CEO, Miles Hurrell, who points out that “Soprole and Fonterra Australia are doing well and our priority is to maximize the value of both companies for our cooperative”.
Hence the objective then to obtain cash by selling the successful business that the transnational controls in our country. “We take our time to ensure the best results for both businesses and we remain confident that we will deliver on our intention to return approximately $1 billion of capital to our shareholders by fiscal year 2024.”adds Hurrell on this subject.
And for that, the excellent results of Soprole in Chile will be essential. Something that also comes out in the note of The thirdwhere we note, for example, that the company’s revenues in our country increased by 18% in the first quarter of 2022 and that profits increased by 103.9%.
Something that has come to allow them to partially cope with the crisis that Fonterra has been experiencing since around 2014, following the drop in milk prices, as reported by the National Federation of Milk Producers itself during of those years concerning the dismissal of more than 500 workers, mainly in New Zealand.
A context very well explained by the journalist and panelist of the morning of the The voice of those who remainRodrigo Herrera, to a Twitter user who linked Fonterra’s decision to the social changes promoted in Chile.
Here we share that and other explanatory comments regarding the state of New Zealand society.
But JP, you are not leaving Chile for these reasons. Fonterra drags the financial crisis since 2014 in the world and the shareholders decided to capitalize to face the financial pit. Where do they find more money? Sell the company that is doing best outside your country: Soprole— ROD HERRERA 🦊 (@rod_herrera) June 7, 2022
Rejected people don’t read or understand what they read. It’s not Soprole leaving the country, it’s one of the shareholders who sells his stake, which is very recurrent on the financial market — Michael Castillo #LaConvencionSeDefiende (@MichaelCastil29) June 7, 2022
Quiet right-wing idiot who doesn’t understand what he’s reading. Soprole is not leaving, but one of the partners will sell his share. And he will do it at the right time, as the company’s revenue has increased by 18% this year. The terror campaign is deflated as well as the Rejection. pic.twitter.com/aPrGoYUMY3– Andrés 💪🕊 🍁 #I approve 😎 (@andres20ad) June 7, 2022
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