Blow to dairy farmers as One51 makes U-turn on €80m payout

Biggest shareholder Dermot Desmond is reported to be opposed to the plan

17th April, 2016
Dermot Desmond is One51’s biggest shareholder

Irish Farmers’ Association presidential candidate Joe Healy had told farmers that dairy processors could use an €80 million windfall due to them from One51 to support farm-gate milk prices through the peak supply months in the days prior to the company’s flotation being pulled.

Hopes of farmers to secure the windfall were scuppered, however, last Friday after One51 announced that it had decided to adjourn an extraordinary general meeting which was scheduled...

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