Fonterra has been given purchase approval
September 7, 2012 - 7:00pm
Dairy giant Fonterra has been given approval to buy the South Canterbury milk processing assets of New Zealand Dairies.
The Russian-owned company went into receivership in May, and the purchase was considered by Commerce Commission.
The commission says it is satisfied the acquisition would not result in a substantial lessening of competition.
No price for the purchase has been disclosed.
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