[2 February/The Australian]

Murray Goulburn believes that its AUD1.31 billion sale to Canadian owned dairy company, Saputo, can complete by July despite a two week delay to regulatory approvals being announced by the Australian Competition & Consumer Commission.  The ACCC said that it required more time to consider data relating to the two businesses and competition issues associated with the proposed transaction, particularly in Western Victoria.  Murray Goulburn was the largest milk processor in Australia but with a series of price downgrades the company now collects less milk than Fonterra Australia, although the proposed transaction will bring together the second and fourth largest processors.