Fonterra ordered to pay France's Danone $125 mln over baby formula scare
New Zealand dairy giant Fonterra
Wellington - Arab Today
New Zealand dairy giant Fonterra was ordered to pay French rival Danone NZ$183 million ($125 million) in damages Friday over a baby formula botulism scare.
The huge payout came after Danone sued over the 2013 issue, when fears about contamination in Fonterra-supplied ingredients forced global formula recalls, including Danone brands.
"We can confirm that this is the amount of the damages. We are currently considering the full financial implications of the award for Fonterra," the New Zealand cooperative said in a statement.
Source:AFP
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