Fonterra seeks court clarity on Bega licence
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The news: New Zealand dairy giant Fonterra is seeking clarity from the New South Wales Supreme Court over its trademark agreement with Bega Cheese.
The numbers: Fonterra shares were unchanged at $4.92 while Bega shares were up 0.4% at $5.28.
The context: The court proceedings come on the back of Fonterra’s decision to divest its global consumer business, which includes dairy products that are sold under a licensing agreement with Bega Cheese.
Fonterra's global consumer business includes the Anchor, Mainland, Fernleaf, Western Star, Perfect Italiano and other brands.
What they said: “The Fonterra companies are seeking declarations from the court that transactions proposed do not affect the operation of the trademark licence agreements between Bega and the Fonterra companies,” the company said in a statement.
The source: ASX announcement
