Dairy Crest said Britain’s Competition and Markets Authority will accept the ratified proposal by Müller UK & Ireland Group for the purchase of Dairy Crest’s dairies business.
On 6 November last year, the FTSE 250 group agreed to sell its dairies operations to Müller UK & Ireland after its shareholders approved the deal.
Late in June this year, the UK competition watchdog indicated there were reasonable grounds for believing that undertakings offered by Müller as part of the deal would address its concerns over fair competition.
In a short statement released on Wednesday, the dairy products producer said it expects the sale to be completed by the end of 2015, adding the deadline for the final decision over the deal, set for 19 October after the CMA extended it by 40 days in August, remains unchanged.
“We welcome today’s announcement from the CMA,” said Dairy Crest chief executive Mark Allen.
“The transformational sale of our Dairies operations is another step closer and remains on track to complete in 2015.”
Full content: Digital Look
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