Deals
Fonterra Cooperative Said to Seek 10% Stake in Australia’s Bega
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Fonterra Cooperative Group Ltd., the world’s largest dairy exporter, is seeking as much as a 10 percent stake in Australia’s Bega Cheese Ltd., according to a person with knowledge of the matter.
Goldman Sachs Group Inc. is approaching Bega shareholders on behalf of Fonterra and offering A$4.95 per share, said the person, asking not to be identified as the information is private. Bega, based in New South Wales state, closed today in Sydney at A$4.41, giving it a market value of A$670 million ($636 million). Its shares have gained 10 percent this week.