Australia Clears Path for Lactalis' Bid for Fonterra Assets

Australia's competition watchdog announced it would not oppose a potential bid by French dairy giant Lactalis to acquire Fonterra Co-Operative Group's consumer, dairy ingredients, and food service businesses based in New Zealand.

This decision paves the way for a significant transaction in the dairy sector, enabling Lactalis to expand its footprint in the Oceania region. The move reflects the regulatory body's confidence in maintaining competitive market dynamics, ensuring that such a merger would not hinder fair competition. Fonterra, known for its substantial presence in dairy production, could see a major shift in its operational focus if the deal proceeds.