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AAP

Derek Rose

Synlait offloads some NZ dairy assets to pay down debt

Synlait Richard Wyeth ASX New Zealand

ASX-listed Kiwi dairy producer Synlait says proceeds of an asset sale will be used to pay down debt. (Dan Peled/AAP PHOTOS)

Shares in a Kiwi dairy producer have jumped after the ASX-listed company agreed to sell some of its New Zealand assets.

Synlait Milk said on Monday it would offload its Waikato district manufacturing facility and two Auckland sites for $US178 million ($271 million) to healthcare multinational Abbott.

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