Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Synlait Milk Ltd. ( (AU:SM1) ) has provided an update.
Synlait Milk Ltd. has entered into a binding conditional agreement to sell its North Island assets to global healthcare leader Abbott for approximately US$178 million. This strategic move is expected to simplify Synlait’s operations by allowing the company to focus on its South Island operations, significantly reduce its debt, and restore its creditworthiness. The sale, which includes the Pōkeno factory and other facilities, is anticipated to be completed by April 2026, pending regulatory approvals. This transaction not only strengthens Synlait’s balance sheet but also opens up opportunities for product diversification and future growth, thereby enhancing stakeholder confidence.
The most recent analyst rating on (AU:SM1) stock is a Sell with a A$0.58 price target. To see the full list of analyst forecasts on Synlait Milk Ltd. stock, see the AU:SM1 Stock Forecast page.
More about Synlait Milk Ltd.
Synlait Milk Ltd. operates in the dairy industry, focusing on the production and distribution of milk and milk-based products. The company is known for its processing facilities and has a market focus on both local and international dairy markets.
Average Trading Volume: 23,928
Technical Sentiment Signal: Hold
Current Market Cap: A$372.4M
Learn more about SM1 stock on TipRanks’ Stock Analysis page.