It has emerged that the New Zealand authorities have indicated that the sale of its infant formula business to French dairy group Lactalis International for 739.8 million (R11.76 billion) could be approved later this month.
Aspen said last month that it was waiting for the approval from New Zealand’s Overseas Investment Office to complete the disposal of this business to the Lactalis Group.
This was after the sale hit a snag last month, when Aspen announced that the deal was expected to be concluded at the end of May.
Aspen and the Lactalis Group have been mutually committed to working towards a closing date for this transaction, which was set for May.