Cropping

MG sale approval delayed

by
February 02, 2018

The approval of the planned purchase of dairy processor Murray Goulburn has been delayed.

The Australian Competition and Consumer Commission (ACCC)  will not announce the outcome of its review into Saputo’s acquisition of the company until March 1.

The original announcement was set for February 15 but has been delayed due to the ACCC requiring more time to consider data and other information.

"In large transactions of this nature, it is not unusual for a short delay to occur in the ACCC regulatory approval process, particularly given the Christmas break," a Murray Goulburn spokesperson said.

Murray Goulburn will continue to work with the ACCC to assist in its review.
 
The transaction is still anticipated to be complete in the first half of 2018.
 

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