National Foods Limited - Panel Accepts Undertakings and Declines to Make a Declaration of Unacceptable Circumstances
The Panel announces that it has accepted undertakings from Fonterra Foods Pty Limited, Sodima SAS and Yoplait SAS in relation to the application by San Miguel Foods Australia Holdings Pty Ltd (San Miguel) for a declaration of unacceptable circumstances on 7 March 2005. The application concerned a proposed joint venture (the JV) which Fonterra Foods, Yoplait and Sodima announced on 2 March 2005. The JV would be between National Foods Limited and Sodima and may be implemented if Fonterra Foods acquires 100% of the shares in National Foods. In light of the undertaking, the Panel has declined to make a declaration of unacceptable circumstances at this stage.