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Dairy Farmers quits National Foods
22 Oct 2004
Dairy Farmers sold its 9.2 per cent holding in National Foods through several stock brokers, in an action that appears to end any aspirations Dairy Farmers had to merge with its rival in milk processing. The sale leaves New Zealand's dairy giant Fonterra as National Foods only significant shareholder, with 18 per cent. In March, French group Danone sold its 10 per cent stake in the company. National Foods is now seeking to merge with SPC Ardmona.
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