Fonterra Acknowledges Commerce Commission Decision

Fonterra Co-operative Group Ltd has acknowledged the Commerce Commission’s decision granting it unconditional clearance to acquire up to 100 per cent of Australia’s National Foods Ltd.

In its decision, released late yesterday, the Commission said it was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in the relevant New Zealand yoghurts and dairy desserts markets.

Fonterra Chief Executive Andrew Ferrier said Fonterra was pleased with the decision and the approach taken by the Commission.

“This is another milestone achieved in our bid for control of National Foods.”


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