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Canadian dairy giant Saputo has again boosted its share in Warrnambool Cheese & Butter Factory Co (ASX:WCB) after Bega Cheese Limited (ASX:BGA) sold its stake.
Saputo’s voting power in Warrnambool is now 46.17 per cent, up from 26.445 per cent.
Bega's move to sell its 18.8 per cent stake brings Saputo close to winning control of the target.
The sale comes after Bega pulled out of the race for Warrnambool last month and ends their strategic relationship which began in 2010.
Warrnambool Cheese & Butter Factory generated a net profit of $7.5 million in fiscal 2013.
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