The dairy cooperative says cash from the sale, along with proceeds from other asset sales like Tip Top, will provide more than one billion dollars for debt reduction.

Fonterra is due to release its annual results tomorrow.

>> More Rural News

Other Rural News

28 Nov: Farmers are turning out more milk with fewer cows

25 Nov: Fonterra still expects most dairy farmers to break even this season

23 Nov: Calls for farmers to get on top of worm treatment for their dogs - to stop the spread of C-ovis or sheep measles

31 Oct: Chris Luxon is defending Fonterra farmers, who've faced a scathing critique from Winston Peters

30 Oct: There are no guarantees Anchor, Mainland and Kapiti products will always be made with New Zealand dairy

30 Oct: Plenty at stake for Fonterra farmers, as they weigh up whether to sell the co-op's consumer brands

24 Oct: A senior analyst believes the sale of Fonterra's brands wouldn't be just a short term sugar hit

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