Fonterra cleared to buy NZ Dairies, expanding presence in South Canterbury

Thu, 06 Sep 2012

Sept. 7 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, has been given antitrust approval to buy the South Canterbury milk processing assets of New Zealand Dairies, the Russian-owned company that went into receivership in May. “Comparing the acquisition by Fonterra to the scenario where another bidder would acquire NZDL’s assets, the commission is satisfied that the acquisition would not be likely to result in a substantial lessening of competition,” Commerce Commission chairman Mark Berry said in a statement...

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