99% of Glanbia shareholders approve plan

Ninety-nine percent of Glanbia plc shareholders have approved a proposal to enter into a dairy processing joint venture.

The decision paves the way for a €164m share payout to farmers next Wednesday.

The decision by the Glanbia shareholders to accept the proposed joint venture had been expected following a vote last Wednesday which saw an overwhelming 71% majority of the farmer-led co-op vote to take direct control of Glanbia plc’s Irish dairy subsidiary.