July 17, 2018 / 11:30 PM / 3 months ago

Australia's Bega Cheese to buy Saputo Inc dairy plant for $184.5 mln

July 18 (Reuters) - Australia’s Bega Cheese Ltd said on Wednesday it has agreed to buy a dairy processing facility at Koroit in Victoria state from Saputo Inc’s local arm for A$250 million ($184.5 million).

The deal comes four-and-a-half months after Canada’s Saputo said it was discussing plans to sell the milk plant to address concerns from Australia’s competition watchdog about its buyout of Murray Goulburn Co-operative.

At the time, the Australian Competition and Consumer Commission (ACCC) said the Murray Goulburn deal may leave some Victorian farmers little choice when selling their milk. ($1 = 1.3548 Australian dollars) (Reporting by Aaron Saldanha in Bengaluru; editing by Richard Pullin)

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