(Reuters) -Dairy firm Bega Cheese said on Monday it plans to seek informal merger clearance from Australia’s competition watchdog of a potential acquisition of its peer Fonterra’s Oceania business.
In November, New Zealand-based Fonterra announced plans to sell or list the units to sharpen its focus on core milk processing operations, with the divestment potentially valued at around NZ$4 billion ($2.41 billion).
“Bega Group hopes to work constructively with Fonterra Group on the sale of its Oceania businesses of which Bega Group is the natural acquirer and in which it remains very interested”, Bega Cheese said in a statement.
Fonterra did not immediately respond to a Reuters request for comment.
In early May, the Australian Competition and Consumer Commission (ACCC) began an informal review of Lactalis’ proposed bid for Fonterra’s assets, even though the French dairy giant said it had not signed any deal with the New Zealand-based firm.
Reuters reported in May that Lactalis, Japan’s Meiji and Canada’s Saputo were expected to bid for Fonterra’s global consumer businesses, including the operations and marketing of brands such as Mainland and Anchor butter, Kapiti ice cream and cheese and Anlene powdered milk supplement.
The sale also included Fonterra’s Oceania and Sri Lanka businesses, spanning the full dairy supply chain.
($1 = 1.6595 New Zealand dollars)
(Reporting by Roshan Thomas in Bengaluru; Editing by Vijay Kishore)
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