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Sun 1 Oct 2006 04:00 AM

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Fonterra agrees Naturalac sale

New Zealand dairy Fonterra has entered into an conditional agreement to sell Naturalac Nutrition Ltd (NNL) to Etika (NZ) Ltd for US $7.8 million. Etika (NZ) Ltd is a newly incorporated subsidiary of Etika International Holdings Ltd listed in Singapore, with operations based in Malaysia. The transaction is conditional on the approval of the shareholders of Etika International Holdings Ltd, which is listed on the Stock Exchange of Singapore. NNL, a marketer of branded sports nutrition and weight management products.

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