Fonterra applies for clearance to acquire assets

Dairy giant Fonterra has applied to the Commerce Commission for clearance to acquire the dairy processing assets of New Zealand Dairies Limited.

NZDL owns a milk powder processing plant near Waimate, and until recently has been collecting raw milk from farmers in South Canterbury and North Otago.

The company was placed in receivership in May.

The commission announced this afternoon it had received the application.

It said its role is to decide whether the acquisition would substantially lessen competition.

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