Shares of Bega Cheese gained as much as 1.9%.
Australia’s Bega Cheese said on Monday that the Supreme Court of New South Wales has dismissed a case filed by Fonterra over trademark licensing agreements and the New Zealand dairy firm’s divestment plan, reported Reuters.
Last November, Fonterra’s Australian units initiated proceedings against Bega Cheese, seeking a ruling that Fonterra’s divestment proposal would not impact the existing trademark license agreements with the Australian cheese producer, with room for changing certain control clauses within them.
Bega Cheese and Fonterra are linked through trademark license agreements, allowing Fonterra to use Bega’s trademarks on specific dairy products like cheese and butter.
In February, Fonterra said it will engage with potential buyers for its global consumer business and integrated businesses, which could include a sale and initial public offering.
Shares of Bega Cheese gained as much as 1.9%, the highest in a month.
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