Saputo won approval on Wednesday, April 4, from Australia’s competition regulator for the planned AUS$1 billion (US$771.6 million) takeover of the country’s largest dairy processor, Murray Goulburn Co-operative, after the Canadian company agreed to sell a key asset.
After two periods of consultation the Australian Competition and Consumer Commission has announced it will not oppose Canadian giant,Saputo’s purchase of Murray Goulburn.
The regulator had previously been a stumbling block for the sale after it opposed the initial deal due to what it saw as a concentration of the milk market in south-west Victoria.
Full Content: ABC News
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