Around 140 jobs could be lost at Fonterra Co-operative Group's Balcatta operation after the New Zealand dairy exporter agreed to sell its Australian ice cream business to Nestle and Bulla Dairy Foods.

Around 140 jobs could be lost at Fonterra Co-operative Group's Balcatta operation after the New Zealand dairy exporter agreed to sell its Australian ice cream business to Nestle and Bulla Dairy Foods.