Sept 26 (Reuters) - Saputo Inc SAP.TO :
* AUSTRALIAN COMPETITION AND CONSUMER COMMISSION SAYS IT WILL NOT OPPOSE ACQUISITION OF LION DAIRY & DRINKS' CHEESE BUSINESS BY SAPUTO DAIRY AUSTRALIA
* "WE DO NOT THINK THIS ACQUISITION IS LIKELY TO HAVE THE EFFECT OF SUBSTANTIALLY LESSENING COMPETITION"
* ACKNOWLEDGES SIGNIFICANT CONCENTRATION IN TASMANIAN DAIRY SECTOR & ANY FURTHER CONSOLIDATION OF DAIRY PROCESSORS WILL CAUSE SIGNIFICANT CONCERN
* ALSO EXAMINED THE IMPACT OF THE PROPOSED ACQUISITION ON THE SUPPLY OF CHEESE IN AUSTRALIA