The group announced in September last year that it expected to dispose of the business for R12.9billion.
“Positive progress has been made in satisfying of the conditions precedent and all but one of the conditions which are reliant on third-party consent had been fulfilled before the end of February.
"The outstanding third-party condition relates to approval by New Zealand’s Overseas Investment Office for Lactalis to invest in that country. The remaining conditions precedent are within the control of the parties,” the group said.
It added that the parties are mutually committed to working towards a closing date for this transaction which is at the end of May.