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Fonterra – Mainland Group sale unconditional
Source: Fonterra Co-operative Group Ltd
Fonterra Co-operative Group Ltd has today confirmed that the agreement to sell its global consumer and associated businesses, Mainland Group to Lactalis for $4.22 billion is now unconditional.
All required regulatory approvals have been received and the separation of Mainland Group from Fonterra is complete.
With all conditions of the sale satisfied, Fonterra and Lactalis will now proceed to complete the transaction.
Timing of capital return
In February, Fonterra shareholders voted to approve a capital return of $2.00 per share to shareholders and unitholders following completion of the transaction.
Fonterra can today advise that it expects the record date to be eligible for the capital return to be 9 April 2026 and the payment date to be 14 April 2026, based off the transaction completing at the end of March 2026.
Fonterra will confirm the capital return record date and payment date when the transaction completes.
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.
Fonterra Co-operative Group Ltd has today confirmed that the agreement to sell its global consumer and associated businesses, Mainland Group to Lactalis for $4.22 billion is now unconditional.
All required regulatory approvals have been received and the separation of Mainland Group from Fonterra is complete.
With all conditions of the sale satisfied, Fonterra and Lactalis will now proceed to complete the transaction.
Timing of capital return
In February, Fonterra shareholders voted to approve a capital return of $2.00 per share to shareholders and unitholders following completion of the transaction.
Fonterra can today advise that it expects the record date to be eligible for the capital return to be 9 April 2026 and the payment date to be 14 April 2026, based off the transaction completing at the end of March 2026.
Fonterra will confirm the capital return record date and payment date when the transaction completes.
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.
Appointments – Heritage New Zealand Pouhere Taonga Appoints New Chief Executive
Source: Heritage New Zealand
Appointment announced by Heritage New Zealand Pouhere Taonga
Heritage New Zealand Pouhere Taonga announces the appointment of Dean Whiting MNZM (Te Whānau ā Apanui/ Farquharson) as its new Chief Executive / Manahautū.
Mr Whiting will move from his current position as Deputy Chief Executive Kaihautū Māori. Mr Whiting has been the Acting CEO since the completion of tenure of former CE, Andrew Coleman, in 2025. As a long-serving staff member of Heritage New Zealand Pouhere Taonga, Mr Whiting has led programmes supporting the protection, conservation, and celebration of Aotearoa New Zealand’s heritage places, taonga and cultural landscapes.
In 2023, Mr Whiting was made a Member of the New Zealand Order of Merit (MNZM) for services to Māori Arts, recognising his significant contribution to Māori arts revitalisation and preservation. His work has included hands on leadership of the Māori Built Heritage Programme of Heritage New Zealand Pouhere Taonga, and wide-ranging support and advice to Māori communities across the motu.
Mr Whiting has also served on the Boards of the Arts Council of New Zealand, the International Council on Monuments and Sites (ICOMOS) and worked as a project conservator for the Museum of New Zealand Te Papa Tongarewa. He is currently chair of the Tohu Whenua heritage tourism programme and leading the governance oversight of seismic strengthening and adaptive reuse of Turnbull House in Wellington. His long-standing commitment to strengthening the heritage sector reflects a future-focused approach to safeguarding both heritage places and our significant cultural landscapes.
Board Chair Dame Jo Brosnahan says the organisation is well-positioned for the future with Mr Whiting at the helm. “Dean’s appointment marks an important next step for Heritage New Zealand Pouhere Taonga. His deep experience, proven leadership and clear strategic focus give the Board great confidence as we enter a new phase of strengthening partnerships, supporting our people, and delivering on our long-term heritage responsibilities.”
Edward Ellison, Deputy Chair of the Board and Chair of the Māori Heritage Council, warmly welcomes the appointment. “The legacy of Te Māori – the landmark international exhibition – lives on in this moment. Dean was part of the original cohort of conservators whose training was made possible by Te Māori, and he carries that whakapapa of heritage revitalisation into this role. It is deeply fitting that Heritage New Zealand Pouhere Taonga is now led by someone shaped by that moment.”
Mr Whiting brings deep organisational knowledge and a long-standing commitment to bicultural partnership under the Heritage New Zealand Pouhere Taonga Act 2014. His appointment marks a continuation of the organisation’s strategic focus on ensuring sites and stories that are important to all New Zealanders are protected and revitalised for future generations.
About Dean Whiting MNZM
Dean Whiting MNZM completed a Bachelor of Applied Science in the Conservation of Cultural Materials (Canberra, Aus) in the late 1980s with a cohort of Māori students who continue to be regarded as New Zealand’s leading experts in the conservation of traditional Māori arts. He has worked for more than 30 years as both an independent conservator, Project Conservator at the Museum of New Zealand Te Papa Tongarewa, and with Heritage New Zealand Pouhere Taonga on the conservation of Māori cultural heritage. Dean was most recently the Deputy Chief Executive Kaihautū Māori for Heritage New Zealand Pouhere Taonga, and has served on the Board of Creative New Zealand between 2017 and 2022 and the International Council on Monuments and Sites (ICOMOS). In 2023 he was made a Member of the New Zealand Order of Merit (MNZM) for services to Māori Arts.
Conflict – NEW ZEALANDERS URGED TO SUPPORT CHILDREN IN LEBANON FACING YET MORE DANGER AND FEAR – World Vision
Source: World Vision
World Vision New Zealand is calling for urgent international action as renewed conflict in Lebanon has forced more than 94,000 people, including thousands of children, from their homes.
The surge in hostilities has centred on southern Lebanon, the Bekaa Valley, and Beirut's southern suburbs, with more than 12,000 families displaced, and numbers rising every day.
World Vision warns that more than one million children already in need of humanitarian assistance in Lebanon are now at even greater risk.
World Vision New Zealand Country Programme Manager, Andy Robinson, says the images emerging from Lebanon are devastating, but New Zealanders can help.
“Thousands of children in Lebanon have been forced to flee their homes in a very short space of time, and are facing an uncertain future, currently living in over-crowded collective shelters.
“The sound of rockets and missile explosions has become part of their childhood, which should never be normal. New Zealanders should not accept this as normal either. It’s a really scary time. Right now, World Vision and other NGOs are working around the clock to support vulnerable children and families, but we urgently need more support to reach all of those who need our help.”
Robinson says World Vision's teams in Lebanon responded within hours of this week’s escalation in violence, delivering hot meals and ready-to-eat food to more than 36,000 displaced people living in collective shelters.He says the organisation is also adapting its school nutrition programme to ensure children sheltering in emergency centres have enough to eat.
Children bearing the heaviest burden
World Vision warns that children caught in the crisis face compounding harms, including psychological trauma, disrupted schooling, family separation, and deteriorating living conditions.
Many have already lived through multiple rounds of conflict, and Lebanon's decade-long economic collapse has stripped away what little safety net remained.
Families are crowding into collective shelters where overcrowding and instability are taking a further toll on children's mental health and sense of security.
Robinson says needs are rapidly outpacing capacity.
“All children deserve to grow up in a community shaped by peace, not conflict. We urgently call on all parties to protect children and civilians and to prevent further harm to their safety, wellbeing and future.”
World Vision New Zealand is scaling up its emergency response in Lebanon and is calling on the New Zealanders to help support children affected by this current spike in violence.
Funds will support food assistance, safe spaces, psychosocial support, and access to education for displaced children. To donate or for more information, visit worldvision.org.nz
Notes:
World Vision has worked in Lebanon for more than 50 years, delivering humanitarian assistance and development programmes for vulnerable children and families.
Its work includes emergency food support, education, child protection, clean water, healthcare and psychosocial services in some of the country’s most fragile communities.
ASB wins Morningstar Fund Manager of the Year – KiwiSaver award
Source: ASB
Morningstar has named ASB as KiwiSaver Fund Manager of the Year New Zealand for 2026, rewarding the strong fund performance achieved for its nearly half a million KiwiSaver members during 2025.
ASB Chief Investment Officer Frank Jasper says that this independent endorsement is a real vote of confidence for ASB’s KiwiSaver members.
“As one of the country’s largest KiwiSaver providers, we take great responsibility and care in managing our customers’ money and take the trust they place in us very seriously.
“Every investment decision we make is with the goal to help New Zealanders have confidence in their financial future – whether that’s saving for retirement or buying their first home.” says Frank.
ASB’s Growth, Moderate, Balanced and Conservative KiwiSaver funds all achieved top quartile returns for both one and three year rolling periods. ASB Moderate and Conservative funds also ranked number one in their categories for 1-year returns to 31 December 2025 according to latest Morningstar’s latest KiwiSaver report December 2025, showcasing ASB’s strength across the range of investment strategies and risk profiles.
The funds’ strong performance, particularly during a year of volatility and unpredictable markets, reflects a carefully curated and disciplined long-term investment approach, in partnership with world-class fund manager BlackRock.
“We will continue to innovate and build out our investment capability to deliver even stronger outcomes for our customers, while empowering savers and investors to make the right decisions that’ll help them grow and achieve their long-term goals.” says Frank.
Matt Olsen, Morningstar Australasia’s Director, Manager Research, said “It’s fair to say that 2025 was a challenging year to navigate. There were inflation surprises, geopolitical uncertainty, and growth uncertainty. Compounded by a market displaying valuations disconnected from fundamentals, it made it a challenging year, even for the best investors.
“Despite this, our nominated fund managers demonstrated an ability to deliver quality, high-performing investments and have stood above peers with exceptional returns over the longer term.” concludes Olsen.
For more information about the Morningstar Awards for Investing Excellence in New Zealand: Morningstar Awards for Investing Excellence New Zealand 2026: Winners Announced | Morningstar
Value of building work put in place: December 2025 quarter – Stats NZ information release
Environmental-economic accounts: Data to 2024 – Stats NZ information release
Property Market – February delivers strongest value lift in four months – Cotality
Source: Cotality
Property values across Aotearoa New Zealand increased by 0.2% in February. That remains a modest rise, but still the strongest since October last year, and more than reversing January’s small -0.1% drop.
Cotality NZ’s latest Home Value Index (HVI) also shows that the national median value in February of $806,697 was -1.2% lower than a year ago and still down by -17.3% from the peak in early 2022 – which was $975,540.
Trends across the main centres were more consistent in February. Kirikiriroa Hamilton and Ōtepoti Dunedin saw the strongest rises, both at 0.9%, while the rest of the main centres saw a lift in values in the 0.4%-0.6% range, except Tāmaki Makaurau Auckland’s was more modest (0.1%).
Cotality NZ Chief Property Economist, Kelvin Davidson said that February’s slightly stronger results were potentially a sign of things to come, but that it’s still early days.
“With sales activity trending upwards for some time now, mortgage rates down, and the economy showing signs of a pick-up, a re-emergence of modest gains in property values this year would not be a surprise.”
“The labour market probably holds the key, and most forecasts suggest that employment has already troughed, with the unemployment rate set to fall from now on.”
“That being said, a modest lift in national property values in a single month in February is nothing to get carried away about.”
“Given the cautious attitude that still prevails among both buyers and sellers, we’d need to see at least two to three more monthly increases before calling it a trend.”
“Moreover, even if that upswing does begin in earnest this year, values are still down more than 17% from their peak, with conditions remaining pretty favourable for first home buyers and those investors looking to start or expand a portfolio. On the flipside, many vendors will be getting prices below what they expected a few years ago.”
“The election campaign in 2026 and any discussion around property policies is yet to kick into full swing and that will certainly be a key focus in upcoming months. At this stage, the Middle East geopolitics may not influence the NZ housing outlook too much, but that’s obviously a watching brief.”
Tāmaki Makaurau Auckland
Tāmaki Makaurau Auckland was still a bit softer than many other parts of the country in February, but even so, all sub-markets were flat or slightly higher.
Rodney, Waitakere, and Auckland City avoided falls, while there were minor 0.1% lifts in North Shore, Manukau, and Franklin – with Papakura up by 0.2%. That small rise in Papakura was enough to make it the only sub-market in Auckland where values are slightly higher (0.3%) than three months ago in November.
Mr Davidson said, “it’s still very early days and a softer month or two at some stage in the near term could never be ruled out. That being said, Auckland’s housing affordability has improved significantly in recent years as values have dropped, alongside the favourable combination of lower mortgage rates and higher household incomes.”
“In other words, with affordability conditions better, and as listing numbers continue to fall, a modest lift in Auckland property values over the medium term wouldn’t be a surprise. It’s too early to say if February marks the start of that shift, but no doubt there’ll be many people watching very closely in our largest centre.”
Te Whanganui-a-Tara Wellington
The wider Te Whanganui-a-Tara Wellington area remained patchy in February, with Porirua down by -0.3%, and both Kāpiti Coast and Te Awa Kairangi ki Uta Upper Hutt seeing a minor -0.1% fall.
By contrast, Te Awa Kairangi ki Tai Lower Hutt was stable, and Wellington City itself (the largest market in this region) saw a solid 0.8% rise in values. That saw the quarterly change for Wellington City come in at 1.1%, and values are now only slightly down (-0.3%) from a year ago.
Mr Davidson noted, “economic and political uncertainty still seems to be lingering around Wellington, which is weighing on the property market. As the election becomes a stronger focus in the coming months, this situation may not change too much.”
“Still, Wellington City property values recorded a strong lift in February. It’s still early to call it a new trend, but better affordability conditions for buyers might set the stage for growth in the medium term.”
Regional results
Outside the main centres, property values strengthened in February, apart from minor -0.1% dips in Rotorua and Ngāmotu New Plymouth, alongside a flat result in Te Papaioea Palmerston North.
Elsewhere among the next tier of markets, there were more notable lifts in values in Tairāwhiti Gisborne (0.9%), Waihōpai Invercargill (1.1%), and Whanganui (1.2%).
“Alongside Ashburton, Timaru, Gore, and Southland District, Invercargill is the other part of the country where property values are at a new peak.
Affordability will be a factor in these areas, but the shape of the economy – with the primary sector performing well at present – will also be playing a role in supporting property values,” Davidson noted.
Property market outlook
Mr Davidson noted that the latest, cautious Monetary Policy Statement and recent cuts to longer-term mortgage rates by some banks could be buoying borrowers.
“Anyone with large debts will no doubt be pleased to see the Reserve Bank pushing back slightly on the suggestion that the OCR could rise sooner rather than later.”
“However, borrowing decisions are nevertheless still changing. As people anticipate a tightening cycle at some stage, there’s now 30% of existing loans fixed and not due to reprice for not at least a year, the highest share since February 2024.”
Looking ahead, property market activity levels should continue to increase this year, potentially bringing down the stock of listings on the market to some extent, and creating a bit more upwards pressure on house prices.
However, Mr Davidson also noted that “lending restrictions, particularly the debt-to-income ratios remain a guardrail in the background.”
“In addition, the physical stock of dwellings has recently risen relative to our population, which is an additional restraint on property value growth.”
“All in all, although the so-called animal spirits in the housing market have the potential to re-emerge at any stage and with little warning, a balanced view at present is for only modest growth in values this year,” Mr Davidson concluded.
For more property news and insights, visit www.cotality.com/nz/insights.
Notes:
The Cotality Hedonic Home Value Index (HVI) is calculated using a hedonic regression methodology that addresses the issue of compositional bias associated with median price and other measures. In simple terms, the index is calculated using recent sales data combined with information about the attributes of individual properties such as the number of bedrooms and bathrooms, land area and geographical context of the dwelling. By separating each property into its various formational and locational attributes, observed sales values for each property can be distinguished between those attributed to the property’s attributes and those resulting from changes in the underlying residential property market. Additionally, by understanding the value associated with each attribute of a given property, this methodology can be used to estimate the value of dwellings with known characteristics for which there is no recent sales price by observing the characteristics and sales prices of other dwellings which have recently transacted. It then follows that changes in the market value of the entire residential property stock can be accurately tracked through time.
The detailed ‘frequently asked questions’ and methodological information can be found at: https://www.cotality.com/nz/our-data/indices
Climate News – Monthly Climate Summary: February 2026
Source: Earth Sciences New Zealand
February dominated by a historic storm mid-month
February will be remembered for the “Valentine’s Storm” – a low-pressure system originating in the subtropics which deepened dramatically as it stalled near and to the east of the country in the middle of the month. Another low-pressure system with more limited impacts opened the month, and these two depressions dominate the overall monthly pressure anomaly. However, in between these systems there were some prolonged periods of settled weather over New Zealand.
Further highlights:
- The highest temperature was 33.6°C, observed at Hastings on 2 February.
- The lowest temperature was -0.7°C, observed at Waipara River North Branch on 28 February.
- The highest 1-day rainfall was 243 mm, recorded at Akaroa on 16 February.
- The highest wind gust was 241 km/h, observed at Cape Turnagain on 16 February.
- Of the six main centres, Tauranga was the sunniest, Auckland was the driest and warmest, Wellington was the wettest, and Dunedin was the coolest and least sunny.
- The sunniest four regions in 2026 so far are wider Nelson (555 hours), Taranaki (536 hours), Bay of Plenty (535 hours), and Tasman (529 hours).
Select Committee calls for online platform transparency and accountability – Amnesty International
Source: Amnesty International Aotearoa New Zealand
The Education and Workforce Select Committee has reported back on its inquiry into the harm young New Zealanders encounter online saying the current law is not adequate. It makes a range of recommendations including:
- Strengthen liability for online harm, e.g. for platform design, such as use of algorithms and infinite scroll features
- Establish an independent national regulator for online safety – the report states that effective regulatory change cannot be accomplished without an empowered regulator
- Regulate algorithmic recommendation systems
- Mandate algorithm transparency
“The Committee’s report strongly affirms that online harm is an urgent issue, that legal safeguards are needed targeting platform accountability and transparency, and the need for an independent regulator.
“The rise of the internet has opened up incredible possibilities. However, without proper regulations, we've witnessed the growth of digital platforms that can create harmful online environments impacting all of society, not just young people. From death threats, revenge porn, live-streamed terrorism, to complex financial scams, the harm is profound. But it doesn't have to be this way.
“The Committee’s report is clear, we can better protect all New Zealanders through such measures as transparency and accountability, overseen by an independent regulator.
“Search engines and social media platforms have been designed to promote content that drives engagement, regardless of its harmful effects. Therefore we would also like to see a duty of care introduced where companies must actively assess and mitigate risks with the aim of making online platforms safer by design. An approach countries like Australia and the UK, and the European Union are already doing,” says Anjum Rahman from the Tāhono Trust.
“We know the Government is considering the issue of online harm, but it shouldn't only focus on a social media ban for young people. While this was one of the Committee’s recommendations, the report was clear more is needed. Banning social media for young people doesn’t address the root causes of harm and places the burden of safety on young people and parents while allowing platforms to continue operating predatory business models. In addition, we’re very concerned that such a policy would mean people have to give away identity data, including biometrics. This in turn raises serious privacy questions about what happens with this data.
“Any plan that solely puts the burden on parents and young people while leaving the toxic architecture of these platforms untouched, will have failed so many New Zealanders,” says Lisa Woods from Amnesty International Aotearoa New Zealand.
Notably, the InternetNZ Insights Report explored people’s thoughts about AI – a feature of many online platforms. It was reported that 68% of people are concerned that AI is being used to produce harmful content with 65% concerned it’s being used for malicious purposes. 64% think there is insufficient regulation and law governing the development of AI.
“We need to create proper safeguards – pragmatic and effective law that upholds human rights, including free speech. Importantly in doing so the Government must keep at the forefront its obligations under Te Tiriti o Waitangi and work with Māori to develop appropriate regulation,” says Woods.