Silver Fern Farms shareholders have voted to support a proposed merger with Chinese firm Shanghai Maling.
Listen Above:听Larry Williams talks to chairman Rob Hewett
The board has announced a resounding more than 82-percent of votes have been cast in favour.
Shanghai Maling will invest $261 million for a 50-percent share of the business.
The deal now goes through to Shanghai Maling to vote on in China.
The regulatory authorities will also need to pass it in both countries.
It is expected to take between six and nine months.
Chairman Rob Hewett says shareholders throughout the country have shown enthusiastic support for the proposal since its announcement.
He says today is an exciting day for the business, with the board believing this will be a defining moment for the co-operative and its supplying farmers.
Silver Fern Farms' top brass is confident its shareholders who voted against the Shanghai Maling venture will continue to supply the company.
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