AUSTRALIA APPROVES SALE OF FRANKLINS

SYDNEY, Australia (FNS) -- The Australian Competition and Consumer Commission here said last week it has reached an in-principle agreement with Hong Kong-based Dairy Farm for the sale of the 287 supermarkets in its Franklins' supermarket chain.Ross Jones, ACCC commissioner for mergers and acquisitions, said the package to which the ACCC has agreed involves the sale of 200 stores to independent retailers,

SYDNEY, Australia (FNS) -- The Australian Competition and Consumer Commission here said last week it has reached an in-principle agreement with Hong Kong-based Dairy Farm for the sale of the 287 supermarkets in its Franklins' supermarket chain.

Ross Jones, ACCC commissioner for mergers and acquisitions, said the package to which the ACCC has agreed involves the sale of 200 stores to independent retailers, and a maximum of 67 stores to Woolworths.

Independents will be offered a

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TAGS: Dairy