Bega Cheese seeks review for bid on Fonterra’s Oceania unit Fonterra eyes full divestment of global dairy operations17 June 2025 17 June 2025 2 minute read 2 minute read By: By: Global Ag Media OceaniaAustralia's Bega Cheese said on Monday it plans to seek informal regulatory approval for the acquisition of peer Fonterra's Oceania business, even as the latter said it aims to sell its global consumer and integrated businesses, including Oceania and Sri Lanka, as a whole, reported Reuters. The informal review process Bega is seeking refers to a voluntary process that lets parties seek the Australian competition regulator's view on whether a merger is likely to substantially lessen competition. Last November, Fonterra announced plans to sell or list the Oceania and Sri Lanka units to sharpen its focus on core milk processing operations, with the divestment potentially valued at around NZ$4 billion ($2.41 billion). In May, the Australian Competition and Consumer Commission (ACCC) began an informal review of French dairy giant Lactalis' proposed bid for Fonterra's assets, even though Lactalis said it had not signed any deal with the firm. The sale included Fonterra's Oceania and Sri Lanka businesses, spanning the full dairy supply chain.