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Russian dairy given green light for NZ acquisition

This article was originally published in Foodnews

RUSSIA's Nutritek Overseas Pte Limited has been granted regulatory approval to take over New Zealand Dairies Ltd. Nutritek is Russia's biggest manufacturer of baby foods and previously held a 5.65% stake in New Zealand Dairies, an independent company founded by a group of South Island farmers and investors to make milk powder for export in competition with Fonterra.

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