Dairy Crest Group PLC CMA to consider Müller undertakings offer (3802R)
June 26 2015 - 9:34AM
UK Regulatory
TIDMDCG
RNS Number : 3802R
Dairy Crest Group PLC
26 June 2015
26 June 2015
Dairy Crest Group plc ("Dairy Crest")
Sale of Dairy Crest's Dairies operations: CMA to consider Müller
undertakings offer
On 6 November 2014 Dairy Crest announced that it had agreed to
sell the assets of its Dairies operations to Muller UK &
Ireland Group LLP ("Müller"). The sale has already received the
approval of Dairy Crest shareholders.
On 12 June 2015 the Competition and Markets Authority ("CMA")
announced that it would refer the sale for a phase 2 investigation
unless Müller offered acceptable undertakings to address the CMA's
competition concerns.
Today Müller has offered undertakings to address the CMA's
concerns. The CMA has decided that there are reasonable grounds for
believing that the undertakings or a modified version of them might
be acceptable and has until 21 August 2015 to decide whether to
accept the undertakings.
Should the CMA accept the undertakings, completion of the sale
will move forward and be before the end of 2015 at the latest.
Mark Allen, Chief Executive of Dairy Crest, commented:
"We have always believed the sale of our Dairies operations is
good news for the whole UK dairy sector at a time when it faces
significant challenges. We welcome today's developments and the
potential for a swifter completion. We will continue to work with
Müller and the CMA to help the sale go through."
For further information, please
contact:
Dairy Crest Group plc
Arthur Reeves 01372 472236
Brunswick Laura Buchanan / Rebecca
Lum 020 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
END
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