National Foods Proposes to Sell Two Milk Processing Plants
Posted on: Thursday, 10 July 2008, 09:01 CDT
In an attempt to obtain the clearance to bid for Dairy Farmers, National Foods has offered to sell two milk processing plants.
National Foods has proposed to make a joint bid with Warrnambool Cheese and Butter Factory for Dairy Farmers, which is valued at up to A$1 billion.
In order to ease competition concerns in relation to the proposed acquisition, National Foods has made an undertaking to the Australian Competition and Consumer Commission (ACCC) to sell two plants which serve New South Wales, South Australia and the Australian Capital Territory, along with licensing out certain brands of milk and flavored milk in those markets. So far, the ACCC has not accepted the proposed undertaking.
Reuters quoted the ACCC as saying: "The decision to consult on the proposed undertaking does not necessarily mean the ACCC will require divestitures or, in the event that any competition concerns are identified, that any aspect of the proposed undertaking would be acceptable to the ACCC."
Source: Datamonitor
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