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Danone: wins arbitration award in Fonterra case.

(CercleFinance.com) - Danone has announced that it has been awarded 105 million euros in damages that Fonterra will have to pay it immediately for costs suffered as a result of the Fonterra food safety failures of 2013, by decision of the Singapore arbitration court.

"This arbitration underscores the merit of its legal actions against Fonterra, including to champion the highest standards of food safety across the industry," the agri-food giant reacted.

Danone points out that in April 2014 Fonterra had already been fined by the District Court of Wellington for violating several provisions of New Zealand's food safety legislation.

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