Fonterra Australia has announced it has signed an agreement to divest its shareholding (36.02 per cent) in Dairy Technical Services (DTS) to a consortium comprising Bureau Veritas Singapore and AsureQuality Limited.
DTS was originally set up as a cooperative testing service company for dairy companies in Victoria, and its other shareholders are The Warrnambool Cheese and Butter Group, Murray Goulburn and AsureQuality.
As a result of this sale, Bureau Veritas Singapore and AsureQuality Limited will own all shares in DTS.
The sale, which is conditional on regulatory approvals, is expected to be completed by the end of May 2016.
Together, the new owners of DTS will bring extensive international testing experience to the Australian dairy and food industry, and will continue to provide testing services to Fonterra.
-Fonterra