Bega Cheese Limited (ASX: BGA) - Bega Cheese receives APCC approval to buy Koroit facility in Western Victoria

  • Aug 11, 2018 AEST
  • Team Kalkine
Bega Cheese Limited (ASX: BGA) - Bega Cheese receives APCC approval to buy Koroit facility in Western Victoria

Dairy products maker Bega Cheese Ltd. has got the approval from Australian Competition and Consumer Commission (APCC) for the purchase of Saputo Dairy Australia’s (SDA), Koroit dairy processing facility at Koroit in Western Victoria.

Recently, Bega Cheese and SDA entered into a guarantee supply agreement of 300 ML of milk per annum until 30 June 2020. Earlier during the day as at August 10, 2018, APCC’s approval announcement came as a step forward for the completion of Koroit facility acquisition by Bega Cheese Limited.

As per Koroit Facility acquisition announcement made in July, Bega Cheese has expected the generation of $20 million EBITDA from Koroit Facility acquisition.

Following the APCC approval, BGA shares price moved down by 0.538% to $7.390 on 10 August, 2018.

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