| Business News | Friday July 6 2012 16:58
The Commerce Commission has received Fonterra's application to buy New Zealand Dairies.
The Russian owned company, which owns a milk powder processing plant near Waimate, is in receivership.
Under the deal, existing farmer suppliers to the failed South Canterbury processor would be paid in full by the company's receivers.
The Commission says its role will be to look at whether the acquisition would substantially lessen competition in any market.