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I'm having a hard time understanding what is going on with the Kerrygold #Cooperative. It doesn't seem like a demutualization event, but people are getting big payouts? Kerry Group and the dairy co-op are splitting up and the big company is buying back its shares from the co-op, so that's where the cash is coming from? But non-dairy producing co-op members are also getting cashed out? Do you understand @ntnsndr

irishtimes.com/business/2024/1…


Kerry Group agrees to sell dairy division to Kerry Co-op in €500m deal

Co-op will take a 70% stake in Kerry Dairy Ireland, with an. option to buy remaining share by 2030
Joe Brennan (The Irish Times)
#cooperative @Nathan Schneider
in reply to Zane Selvans

Nathan Schneider
mastodon - Link to source
Nathan Schneider
• •
it seems to me a work of exemplary business journalism, focusing only on the numbers and never on the politics.
in reply to Nathan Schneider

Zane Selvans
mastodon - Link to source
Zane Selvans
• •

Is that exemplary (sarcastic)? Are there interesting co-op politics to explore and understand? I first came across the "Kerrygold Rush" story in this BBC story and was like "it don't make no sense." They're trying to make this into a weird extractive capitalist feel-good windfall get-rich-quick story, but what the hell is going on in the background?

bbc.co.uk/programmes/p0kpqk7d


Egypt warns over Israel's support for Trump's Gaza 'takeover' plan

Cairo said it undermined efforts to extend the current ceasefire
BBC
in reply to Zane Selvans

Nathan Schneider
mastodon - Link to source
Nathan Schneider
• •
What I mean is that business reporting so often treats economic activity like a numbers game (line goes up, trade goes down), without actually bothering to explain what you're asking for: What is at stake for actual people, for workers, and who wins and who loses.

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