November 30, 2017 / 8:01 PM / in a year

Fonterra seeks trading halt pending outcome of arbitration with Danone

Dec 1 (Reuters) - New Zealand’s Fonterra requested an immediate temporary trading halt on Friday to have time to consider the outcome of its arbitration with Danone SA regarding its 2013 whey protein concentrate precautionary recall.

Fonterra, the world’s biggest dairy exporter, said it had been advised it would receive the arbitration tribunal’s decision later in the day.

“Fonterra remains in a strong financial position and any damages award will not affect our ability to operate,” said Theo Spierings, chief executive of Fonterra.

Reporting by Aditya Soni in Bengaluru; Editing by Alison Williams

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