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Reuters
Reuters
Business

Australia's Bega Cheese intends to sell stake in Capilano

(Reuters) - Bega Cheese Ltd <BGA.AX> on Wednesday said it plans to vote in favour of selling its stake in Capilano Honey Ltd <CZZ.AX> to a China-focused consortium.

Bega Cheese, which is the second largest shareholder in Capilano, will sell its 15.6 percent stake to the Bravo BidCo Pty Ltd consortium, the company said in a statement.

Earlier this month, the consortium of Wattle Hill RHC Fund and ROC Capital Pty Ltd, namely Bravo BidCo, sweetened its offer to A$21 per share from A$20.06 for Capilano, raising its proposal to A$198.6 million ($143.69 million).

(Reporting by Shriya Ramakrishnan in Bengaluru, editing by Eric Meijer)

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