date:Jan 21, 2014
New South Wales-based dairy company Bega Cheese Limited (Bega) has announced its intention to sell its 18.8 per cent shareholding in Warrnambool Cheese and Butter (WCB) to Canadian dairy company Saputo. The move makes a Saputo takeover of WCB likely.
Bega Cheese, which pulled out of the battle for WCB ownership in December 2013, will realise a substantial profit on the sale of its WCB shares. Depending on Saputos relevant interest at the close of its offer, Bega Cheese will receive between $94.