Fonterra has a longstanding commercial and distribution agreement with Bega Cheese. Picture / AAP
Australian Dairy Company Bega Group wants the chance to bid for the consumer business being spun out of Fonterra Co-operative Group and claims to have been left out.
But the New Zealand dairy co-op says it is following a typical process with the steps that would
be expected.
Australian dairy company Bega, which counts Australian billionaire Andrew (Twiggy) Forrest’s investment group Tattarang as its largest shareholder, says it has the backing to pull together a compelling offer to take the Oceania operation while a partner takes the Asian assets.
Or it could make a bid for the lot. Fonterra’s managing director of M&A (mergers and acquisitions) and strategic divestments, Mike Cronin, who is leading the process internally at the co-op, said that on the trade sale side, it was following a typical deal process with the steps that would be expected.
Read more at BusinessDesk here.
