Four international companies are keen on Fonterra’s assets in Chile, according to Chilean media.
The firms are Canada’s Saputo, France’s Lactalis, Peru’s Grupo Gloria and an unnamed Chinese company, according to Chile’s Diario Financiero.
A Chilean source previously told BusinessDesk that a Chinese company had expressed interest but did not confirm which company.
The foreign companies may be more open to investing in Chile after a proposed new constitution was shot down in September.
The Magna Carta was drafted after widespread social protests brought the country to a standstill in 2019.
Among other things, the new document put environmental and indigenous rights at its centre, but was widely viewed by businesses and foreign investors as undermining property rights.
Some national Chilean firms were said to have also expressed interest, but pulled out over competition.
Fonterra, which merged Soprole and Prolesur into one entity in early 2021, said in March it was on track to deliver $1 billion of capital to shareholders and unit holders by 2024, and part of that would be generated from the sale of Soprole.
In September, Fonterra said “as part of the strategic review of the ownership of our milk pools outside New Zealand, we continue to make progress, with the sales process for the Soprole business progressing”.
Chilean analysts have said the assets could be worth as much as US$800 million (NZ$1.4b) while media reports said it could be as high as US$1b.
Fonterra did not immediately respond to a request for comment.
