a2 Milk Backs Synlait’s Strategic Equity Raise

a2 Milk Company Ltd. (ACOPF) has released an update.

The a2 Milk Company Ltd. has confirmed its participation in Synlait Milk Limited’s NZ$217.8 million equity raise to maintain its 19.83% stake and support Synlait’s debt reduction strategy. This move is strategic for a2 Milk, ensuring the stability of their production at Synlait’s Dunsandel site amidst ongoing arbitration over various disputes. Synlait is also nearing the final stages of refinancing its banking facilities, with a Special Shareholders’ Meeting scheduled for September 18, 2024.

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