Australia's Bega Cheese sells 18.8 pct Warrnambool stake to Saputo
SYDNEY Jan 16 (Reuters) - Australia's Bega Cheese Ltd said on Thursday it will sell its 18.8 percent stake in Warrnambool Cheese and Butter Factory Co. Holdings Ltd to Saputo Inc, a major breakthrough for the Canadian company in an extended takeover battle.
Saputo, which has been battling local dairy company Murray Goulburn for Warrnambool, will add the Bega stake to its existing holding of 26.4 percent, based on the latest share information available. That would give Saputo a 45.2 percent stake in the company, Australia's oldest dairy maker.
Murray Goulburn is still awaiting regulatory approval for its bid. It currently owns 17.7 percent of Warrnambool.
- Search for Malaysian plane may extend to Indian Ocean - U.S |
- Search for Malaysian plane may extend to Indian Ocean: U.S. |
- Nose gear on plane collapses at Philadelphia airport
- Russia holds war games near Ukraine; Merkel warns of catastrophe |
- Knife-wielding assailants attack people in central China: Xinhua