MONTREAL -- Saputo Inc. (TSX:SAP) has pulled further ahead in its race to acquire Australia's oldest dairy processor. Bega Cheese Ltd. announced Thursday it intends to sell its 18.8 per cent stake in Warnambool Cheese & Butter (ASX:WCB) to the Montreal-based company. Bega says it expects to receive between AU$97.7 million and AU$101 million for its WCBshares, depending on the price Saputo pays.
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Bega Cheese to sell minority stake in Warnambool to Saputo
The Canadian Press
Published Thursday, January 16, 2014 6:51AM EST
The Saputo plant is shown in the St-Leonard area of Montreal, Monday, Jan.13, 2014. (THE CANADIAN PRESS/Ryan Remiorz)