Murray Goulburn Co-operative Limited
(ASX:MGC) has signed an agreement to divest its 25.26 per cent stake in food testing business, Dairy Technical Services to a consortium.
The consortium comprises the Bureau Vertias Group and AsureQuality Limited.
Dairy Technical Services has four major shareholders including Murray Goulburn, and provides independent, analytical services to the food industry.
The divestment of Murray Goulburn’s interest in DTS is expected to result in a one-off profit of $18 million at 30 June 2016.
Murray Goulburn reported a net profit of $9.28 million at 31 December 2015.
