FrieslandCampina Investments Holding has sold its 8.2% shares in Synlait Milk Ltd. for €32 million (US$34.52 million).
The shares were acquired for €23 million in 2013.
Synlait Milk was established on the South Island of New Zealand near Christchurch and supplies high-quality basic materials for the dairy industry.
In 2013, an interest in Synlait was acquired in order to gain access to milk supplies and so secure the continuity of the Asian business of FrieslandCampina.
FrieslandCampina also wanted to have an alternative for the production of infant nutrition.
After reconsideration, the company expects to be able to reach these objectives on its own.