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Australian regulator flags concerns over Saputo's Tasmanian cheese business buyout

Published 2019-08-07, 08:02 p/m
© Reuters.  Australian regulator flags concerns over Saputo's Tasmanian cheese business buyout
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Aug 8 (Reuters) - Australia's competition watchdog on Thursday raised concerns about Canadian dairy firm Saputo Inc's SAP.TO acquisition of the Australian cheese business of Japan's Kirin Holdings 2503.T .

"We are concerned that combining these two operators may lead to Tasmanian dairy farmers being paid lower prices for their raw milk," Australia Competition & Consumer Commission Deputy Chair Mick Keogh said in a statement.

In April, Saputo announced the A$280 million ($189 million) acquisition of the specialty cheese business of Lion Dairy & Drinks, a unit of Kirin Holdings. = 1.4793 Australian dollars)

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