Glanbia dairy farmers back share sale but crucial vote remains

Glanbia dairy farmers took one step closer to securing a €163m windfall after 81.8% of voters accepted to spin out and sell shares, but another crucial vote remains before the co-op shareholders can cash in.

Voters will return to Gowran, Co Kilkenny, in two weeks’ time on Dec 12 to partake in a second vote as stipulated by co-op rules.

Fears remain that an external factor such as the weather could result in Glanbia failing to achieve the 75% required to pass the share spin-out and sale proposal.