Synlait

2024 - 7 - 11

The Synlait Drama: A2's Lifeline and Bright Dairy's Bailout

A2 Milk - Bright Dairy - dairy industry - loan - Synlait

Discover how A2 Milk's support and Bright Dairy's loan saved Synlait from collapse in this intriguing story!

The recent saga of Synlait Milk, a New Zealand dairy producer, has kept shareholders on the edge of their seats. With a looming debt repayment deadline, the company found a glimmer of hope as its key shareholder, A2 Milk, pledged a $130 million loan. This crucial lifeline from A2, along with near-unanimous shareholder support for the loan from Bright Dairy, saved Synlait from the brink of collapse.

In a dramatic turn of events, shareholders gathered in Dunsandel for a special meeting where they overwhelmingly voted in favor of the financial rescue package. The decision to use the loan to repay bank debts and avert receivership was a pivotal moment for the embattled milk processor. Synlait's future hinged on this crucial vote, making it a make-or-break situation for the company.

Following the approval of the loan, both A2 Milk and Synlait's shares saw positive movements, indicating investor confidence in the company's ability to recover. The support from A2 and Bright Dairy not only saved Synlait from financial turmoil but also showcased the strength of partnerships in the industry.

As Synlait navigates its way through this challenging period, the backing from A2 Milk and the $130 million loan from Bright Dairy have set a precedent for corporate support and resilience. The dairy sector's interconnectivity and mutual assistance have proven to be instrumental in safeguarding businesses during times of crisis.

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Image courtesy of "RNZ"

Key shareholder A2 backs $130m loan for Synlait (RNZ)

Synlait needs the loan from its 39 percent shareholder to repay its debt to banks by Monday.

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Image courtesy of "New Zealand Herald"

'The task ahead is complicated': Synlait Milk lives to see another day ... (New Zealand Herald)

At a special meeting in Dunsandel, shareholders voted overwhelmingly in favour of a $130 million loan from the company's biggest shareholder, China's Bright ...

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Image courtesy of "Farmers Weekly"

Near unanimous shareholder support for Synlait loan (Farmers Weekly)

Synlait shareholders have voted 99.6% in favour of using a $130 million loan from major shareholder Bright Dairy to repay bank loans due next week.

Synlait shareholders back $130m Bright Dairy loan (Rural News Group)

Shareholders of troubled milk processor Synlait have voted overwhelmingly to support a $130 million loan from its biggest shareholder, Bright Dairy of...

Synlait secures A2 Milk backing for crucial debt vote (Capital Brief)

The news: Embattled New Zealand dairy producer Synlait Milk has secured backing from key shareholder A2 Milk for a new loan by China's Bright Dairy.

A2 Milk to vote in favour of Synlait rescue loan (The National Business Review)

Decision means $130m loan from 39% shareholder Bright Dairy likely to be approved, averting milk processor's receivership. Milk processor Synlait must repay ...

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Image courtesy of "BusinessDesk"

Bailout or collapse? What you need to know about Synlait's make-or ... (BusinessDesk)

What's happening today?Synlait faces a make-or-break meeting this afternoon at 2pm where shareholders will vote to approve or reject a $130 million loan f.

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Image courtesy of "RNZ"

Synlait Milk shareholders back large loan from Chinese major ... (RNZ)

Its minority shareholders voted overwhelmingly at a special meeting in favour of a $130 million loan from its Chinese major shareholder, Bright Dairy, to allow ...

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Image courtesy of "Motley Fool Australia"

A2 Milk shares lift amid backing for $130 million Synlait loan (Motley Fool Australia)

A2 Milk Co Ltd (ASX: A2M) shares are in the green today and Synlait shares are up a whopping 50%. Here's what's happening.

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Image courtesy of "The Australian"

A2 Milk unlikely to support Synlait recapitalisation (The Australian)

The $5.4bn A2 Milk may have been supportive of Bright Foods providing a $NZ130m loan to Synlait, but a sweeping recapitalisation plan with a major equity ...

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Image courtesy of "Stuff.co.nz"

Troubled Synlait Milk wins $130 million rescue loan vote (Stuff.co.nz)

Troubled dairy company has won a vote to draw down on $130 million loan to repay bankers.

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Image courtesy of "BusinessDesk"

Synlait's first hurdle cleared, 'heavily dilutive' capital raising next to ... (BusinessDesk)

Getting the stamp of approval for the crucial loan from its largest shareholder is the first step in resetting Synlait's balance sheet, its chair says.The.

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Image courtesy of "just-food.com"

Synlait shareholders approve Bright Dairy bailout (just-food.com)

New Zealand dairy business Synlait Milk has received shareholder backing for a large loan from major backer Bright Dairy.

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Image courtesy of "Newstalk ZB"

Synlait handed a lifeline as shareholders vote in favour of loan (Newstalk ZB)

It comes after the company plunged into a $96.2 million first half loss. Synlait supplier Cameron Henderson told Andrew Dickens that Covid-19 and China's ...

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