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Fonterra said Tuesday it had settled a dispute with Bega Cheese over the status of lucrative licence agreements as part of a $3.8 billion sale of its Australian business to French dairy company Lactalis.
Dairy company Fonterra can't get a court declaration that its Australian exit plans will not trigger change of control clauses in lucrative licence agreements with Bega, potentially affecting the likely sale price.
Fonterra, which has taken cheese maker Bega to court to resolve a dispute over the dairy company's plans to exit the Australian market, is resisting a bid for discovery in the case.