May 12, 2019 / 8:42 PM / 14 days ago

NZ's Fonterra sells Tip Top ice cream to Froneri for $250 mln

May 13 (Reuters) - New Zealand dairy group Fonterra on Monday confirmed the sale of its Tip Top ice cream business to ice cream maker Froneri for NZ$380 million ($250.34 million).

The sale represents a gain of about NZ$100 million above book value, which would have a positive 6 cents-per-share impact on earnings, Fonterra said in a statement. ($1 = 1.5179 New Zealand dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Peter Cooney)

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