Bega plan to sell Capilano stake

BEGA Cheese plans to vote in favour of selling its stake in Capilano Honey to a Chinafocused consortium.

Bega Cheese, which is the second largest shareholder in Capilano, says in a statement it plans to sell its 15.6 per cent stake to the Bravo BidCo Pty Ltd consortium.

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