26 Jun 2015 14:34

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26 June 2015
Dairy Crest Group plc ("Dairy Crest")
Sale of Dairy Crest's Dairies operations: CMA to consider Müller undertakings offer
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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.
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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.
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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.
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Should the CMA accept the undertakings, completion of the sale will move forward and be before the end of 2015 at the latest.
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Mark Allen, Chief Executive of Dairy Crest, commented:
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"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."
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For further information, please contact: | |
Dairy Crest Group plcArthur Reeves | Â 01372 472236 |
BrunswickLaura Buchanan / Rebecca Lum | Â 020 7404 5959 |
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