Fonterra Australia CEO Rene Dedoncker said the cooperative has put its plans for an IPO or outright sale of Fonterra’s Australian business on hold. Speaking at a breakfast briefing, the Dedoncker said volatile economic conditions and the recent downturn in the local economy made contemplating a sale difficult, the reality of the market was that there is limited activity. Dedoncker said the operational review of the Australian business is ongoing, hinting that Fonterra remains open to offers.