Australian Co-operative Foods (ACF) has secured permission from the Australian Stock Exchange to prevent any individual shareholder taking a stake greater than 15%. The move came after a number of rival dairy manufacturers expressed an interest in acquiring the group. These include National Foods, Bonlac Foods and Parmalat.
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ACF is currently seeking a listing on the Australian Stock Exchange as part of a general restructuring campaign. The company made a net profit of A$1.6m in the March 2001 quarter, giving it a profit of A$12.1m so far for the financial year in progress.
