NZ’s Synlait cuts annual loss, inks asset sale deal; shares surge
By Kumar Tanishk (Reuters) -Synlait Milk reported a much narrower annual net loss on Monday and announced the sale of its North Island assets for NZ$307 million ($177.2 million) to U.S.-based Abbott Laboratories, sending its shares surging. The New Zealand-based dairy firm’s shares rose as much as 20.7% to trade at NZ$0.845, posting their biggest…