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Soprole withdraws proposal to merge
Fonterra Co-operative Group has confirmed that its Chilean subsidiary, Soprole, has withdrawn a proposal to merge its business with Nestlé Chile’s liquid and chilled dairy business.
Fonterra CEO Andrew Ferrier said Soprole and Nestlé Chile had today agreed to withdraw the application. The parent companies Nestlé SA and Fonterra assessed that the conditions to continue with the application were not appropriate, and have no plans to present a new application to the Chilean authorities.
Ferrier said Soprole would now focus on continuing to grow its consumer business in Chile: “Soprole already has a very strong position in the Chile market and has been posting strong growth in recent years,” he said. “The team is now focused on building on that strong foundation.”
Source: Fonterra
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