Source: Greenpeace
Business and Dairy – Fonterra farmers approve consumer sale with strong support
Fonterra’s farmer shareholders have given the go ahead for the Co-operative to sell its global Consumer and associated businesses, Mainland Group, to Lactalis for $4.22 billion, with 88.47% of the total farmer votes cast in support of the divestment.
The final votes on the divestment were cast at a virtual Special Meeting held this morning.
Chairman Peter McBride says the Board and management team were encouraged by the level of engagement from farmer shareholders in the lead up to the vote.
“We’ve been pleased to see so many farmers joining in the discussions since the start of this process in May last year when we first announced the decision to explore divestment options, and especially over the past month or so when the full details have been available,” says Mr McBride.
“It helps to demonstrate one of the key things that sets us apart from most other processors – our farmers have a direct say in the future of their Co-operative, and they’ve made the most of that opportunity.
“We’re pleased to have received a strong mandate, with 88.47% of the total farmer votes cast in support of the recommendation and 80.59% participation based on milk solids voted. We want to thank all farmer shareholders who voted.”
Mr McBride says the decision to divest the Mainland Group businesses is significant and one the Board did not take lightly.
“We have examined the strategic context we operate in, our strengths and how as a Co-op we create value for our farmer owners.
“The divestment will usher in an exciting new phase for the Co-op. We will be able to focus Fonterra’s energy and efforts on where we do our best work. We will have a simplified and more focused business, the value of which cannot be overstated,” says Mr McBride.
The threshold required to approve the sale was for more than 50% of the votes from those entitled to vote (based on share-backed kgMS) and who actually voted to be in favour of the proposal.
Completion of the divestment remains subject to securing certain regulatory approvals and the separation of Mainland Group business from Fonterra, both of which are well underway.
Subject to these steps being completed, Fonterra expects the transaction to complete in the first half of the 2026 calendar year.
Fonterra is targeting a tax-free capital return of $2 per share to shareholders and unit holders, equivalent to $3.2 billion, once the sale is complete.
Another shareholder vote will be required for the payment of the capital return. The process for that capital return is expected to be by way of a scheme of arrangement under Part 15 of the Companies Act 1993.
The Co-op plans to provide more detail on the timing and process for the capital return in early December.
About Fonterra
Fonterra is a co-operative owned and supplied by thousands of farming families across Aotearoa New Zealand. Through the spirit of co-operation and a can-do attitude, Fonterra’s farmers and employees share the goodness of our milk through innovative consumer, foodservice and ingredients brands. Sustainability is at the heart of everything we do, and we’re committed to leaving things in a better way than we found them. We are passionate about supporting our communities by Doing Good Together.
Environment and Health – Greenpeace welcomes glyphosate ruling, urges NZ Food Safety to restart food safety testing
Source: Greenpeace
Animal Safety – Two dogs dead in one day at Southland greyhound track
Source: SAFE For Animals
- The Racing Industry (Closure of Greyhound Racing Industry) Amendment Bill was introduced to Parliament on 13 October 2025. The Bill amends the Racing Industry Act 2020 to close commercial greyhound racing in New Zealand from 1 August 2026.
- Since the Government’s announcement on 10 December 2024 that commercial greyhound racing would end, the industry has recorded a total of 626 injuries, including 91 fractures and 17 deaths. In the current 2025/26 racing season (which began on 1 August 2025), there have already been 165 injuries, 18 fractures, and 5 deaths.
Fire Safety – Pause and Plan before Burning Storm Debris
Source: Fire and Emergency New Zealand
Economics – RBNZ opens consultation on DTA Standards exposure drafts
30 October 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua has opened consultation on exposure drafts of four standards to support the implementation of the Deposit Takers Act 2023 (DTA).
The DTA modernises New Zealand's regulatory framework for deposit takers, helping to ensure their safety and soundness, and supporting a stable financial system that New Zealanders can trust.
Exposure drafts are preliminary versions of legislation released for stakeholder feedback before being finalised, explains Director of Prudential Policy, Jess Rowe.
“This consultation builds on extensive engagement with industry and the public throughout 2024 and 2025,” Ms Rowe says. “We are now seeking technical feedback from stakeholders to ensure the exposure drafts align with the policy intent.”
This feedback will help identify any technical issues before the standards are finalised.
Consultation on the DTA Standards will be delivered in three tranches, with the first tranche published today. It includes exposure drafts for the following standards:
- Liquidity Standard
- Depositor Compensation Scheme (DCS) Standard
- Lending Standard
- Incorporation outside New Zealand Standard
DTA Standards exposure drafts (tranche 1) – Citizen Space: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=84feac4fea&e=f3c68946f8
Consultation on tranches two and three of the exposure drafts will open in February 2026 and June 2026 respectively.
DTA Standards will come into effect on 1 December 2028. The DTA will replace existing prudential legislation with a single regulatory regime for all deposit takers.
DTA timeline – Reserve Bank of New Zealand – Te Pūtea Matua: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=904d935ccc&e=f3c68946f8
Consultation also opens on Group Supervision Policy under the DTA
A companion paper has also been published seeking feedback on our Group Supervision Policy under the DTA. This policy consultation was foreshadowed in the non-core standards consultation paper released in August 2024.
This outlines how we propose to supervise New Zealand deposit takers in group structures, particularly those that have subsidiaries that operate overseas. We welcome submissions on the policy.
Group Supervision Policy under the DTA – Citizen Space: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=2d9a26ba7f&e=f3c68946f8
University Research – Mass claims, mixed results: the class action dilemma – UoA
With class actions making headlines, researchers are asking whether they deliver fair compensation and deter repeat offending.
Mass class actions for personal injury claims don’t always deliver justice for victims or deter wrongdoing, research suggests.
In a journal article, Auckland Law School’s Nikki Chamberlain and Professor Michael Legg (University of New South Wales) examine how class actions, which enable groups with similar claims to pursue a case collectively, operate in Australia and New Zealand.
They say that while class actions can compensate claimants and deter wrongdoing to some extent, significant issues hinder their effectiveness; ‘class actions are necessary, but often not sufficient’, they write.
Although large compensation payments are often awarded, these payments can come years after the wrongdoing was committed, which is particularly problematic when personal injury is involved.
Ultimately, says Chamberlain, this raises questions about whether there's a more effective way to remedy mass damages, and her ongoing research digs deeper into options, including New Zealand's regulatory approach under the Accident Compensation Act.
In the article, published in the bimonthly journal, Laws, Chamberlain and Legg analyse the Australian and New Zealand class action systems, prior research, and three case studies.
Read more: http://www.auckland.ac.nz/en/news/2025/10/29/mass-claims–mixed-results–the-class-action-dilemma.html
Climate – Nationwide study reveals escalating flood risk – Earth Sciences
Source: Earth Sciences New Zealand
Population growth slows in all regions – Subnational population estimates: At 30 June 2025 – Stats NZ news story and information release
Reserve Bank of NZ – Protecting independence while embracing partnership
29 October 2025 – Reserve Bank Governor Christian Hawkesby has reaffirmed the crucial importance of central bank operational independence, while highlighting the need for partnership to enable the economic wellbeing of New Zealanders.
In remarks delivered to an RBNZ event with industry stakeholders, Mr Hawkesby said that central bank operational independence does not mean complete autonomy or isolation. Rather, he emphasised the importance of the central bank and the government working in partnership.
He explained the government's critical role in monetary policy and financial stability. This includes owning the pieces of legislation underpinning the Reserve Bank's mandates, outlining policy objectives, and making resolution decisions in case of a deposit taker or financial system failure.
Mr Hawkesby also noted that the central bank's huge responsibility of having operational independence for setting monetary policy and prudential policy needs to go hand in hand with transparency and accountability.
“While respecting each other's roles, a clear division of roles and responsibilities between government and central bank can enable an effective partnership, ultimately supporting the prosperity and wellbeing of New Zealanders,” he said.
Mr Hawkesby also acknowledged that working in partnership needs to extend beyond the central bank and the government.
“We need to work together with our Council of Financial Regulators [1] colleagues, the financial industry, fintechs, academics, the business sector, communities, iwi and a range of other government agencies on the future of money, the future of cash, the future of banking, the future of payments and the future of insurance.”
“The benefits to all New Zealanders will not be achieved without collective commitment and collective action,” he concluded.
More information:
Protecting independence while embracing partnership – Reserve Bank of New Zealand – Te Pūtea Matua: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=3b4ee90e82&e=f3c68946f8

