Fonterra spends another A$14.7 mln to lift Bega stake

Fri, 29 Nov 2013

Nov. 29 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, spent another A$14.7 million to lift its stake in Australian dairy company Bega Cheese this week, paying a premium to do so. The Auckland-based company bought 3 million shares at A$4.89 apiece, to increase its stake in Bega to 9.06 percent, it said in a statement. That’s a 4.7 percent premium to the A$4.67 Bega recently traded at. Earlier this month it bought 9.3 million shares at A$4.95 each, at a time when Bega was embroiled in the takeover battle fo...

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