Fonterra units drop after Danone launches legal action, ends contract

Wed, 08 Jan 2014

By Paul McBeth Jan. 9 (BusinessDesk) - Units in the Fonterra Shareholders’ Fund fell after French food processor Danone ended its supply contract and launched legal proceedings against the New Zealand dairy exporter. The units fell 1.5 percent to $5.77 after Paris-based Danone said it is initiating proceedings in the New Zealand High Court and arbitration proceedings in Singapore against Fonterra Cooperative Group “to bring all facts to light and to obtain compensation for the harm it has suffered.” The French company will file papers in th...

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