Murray Goulburn to raise $500 million

Australia’s largest dairy co-operative Murray Goulburn Co-operative Co. Limited (Murray Goulburn) has announced an Extraordinary General Meeting (EGM) to vote a new capital structure that will see the organisation seek approximately $500 million of capital. Murray Goulburn operates its dairy processing business under the leading Devondale brand. The EGM will be held in Melbourne on Friday, 8 May 2015. Murray Goulburn is Australia’s largest dairy foods company. In 2013/14 the company received approximately 3.4 billion litres or 37 per cent of Australia’s milk and generated sales revenue in excess of $2.9 billion. Murray Goulburn was formed in 1950 and remains 100 per cent dairy farmer controlled, with more than 2,500 farmer/shareholders and more than 2,400 employees. (VIEW LINK)