Arab Today, arab today australia\s bega cheese to sell 188 warrnambool stake to saputo
Last Updated : GMT 13:40:10
Arab Today, arab today
Arab Today, arab today

Australia\'s Bega Cheese to sell 18.8% Warrnambool stake to Saputo

Arab Today, arab today

Arab Today, arab today Australia\'s Bega Cheese to sell 18.8% Warrnambool stake to Saputo

Sydney - XINHUA

Australian dairy company Bega Cheese on Thursday announced its intention to sell its 18.8 percent stake in Warrnambool Cheese and Butter Factory Company Holdings Limited (WCB) to Canadian dairy company Saputo. Bega said it will receive between 94.7 million AU dollars (83.3 million U.S. dollars) and 101 million AU dollars (88.8 million U.S. dollars) from the sale of its WCB shares, depending on Saputo's relevant interest at the close of their offer. The New South Wales-based dairy company said it will make a profit before tax and costs of between 61.8 million AU dollars and 68.2 million AU dollars from the sale. "The significant profit realized by the sale of our WCB holding will add to our capacity to pursue a number of strategic business opportunities which will ensure Bega Cheese's reputation for being a leader in manufacturing milk pay-rates and delivering stable and growing returns to shareholders,"Bega Cheese Executive Chairman Barry Irvin said in a statement released Thursday. Irvin said Bega's investment in WCB had been a resounding success for both companies despite the fact its takeover bid for WCB was unsuccessful. "Bega Cheese's takeover offer was the catalyst for a process which has highlighted the value of the Australian dairy industry, a rerating of Bega Cheese's share price and a substantial profit for Bega Cheese," he said. Saputo is offering an unconditional 9.00 AU dollars per Warrnambool share, but that price could rise to as much as 9.60 AU dollars if it gets 90 percent or more acceptance. On Monday, Saputo said it controlled 26.45 percent of WCB shares. The addition of Bega's 18.8 percent stake will give Saputo an interest of 45.25 percent. Saputo's takeover offer for Warrnambool, which is final, closes on Jan. 22. Rival takeover bidder Murray Goulburn, which has a 17.66 percent stake in Warrnambool, is offering a conditional 9.50 AU dollar a share in the bid. But Murray's takeover offer is subject to no objection by the Australian Competition and Consumer Commission or the granting of authorization by the tribunal.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia\s bega cheese to sell 188 warrnambool stake to saputo Arab Today, arab today australia\s bega cheese to sell 188 warrnambool stake to saputo

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia\s bega cheese to sell 188 warrnambool stake to saputo Arab Today, arab today australia\s bega cheese to sell 188 warrnambool stake to saputo

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday