Fonterra scotches speculation of US$450 mln Indian acquisition

Tue, 20 Nov 2012

By Paul McBeth Nov. 21 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, has dismissed speculation the company is among potential bidders for India's Tirumala Milk Products. The New Zealand cooperative scotched a Times of India report naming it with French food conglomerate Danone as vying for a controlling stake in Hyderabad-based Tirumala, with a spokesman for the dairy exporter calling it "rubbish". The US$450 million enterprise value figure reported would be material for Fonterra and would need to be disclo...

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