Business
Milking it! UBS jumps on board for $400m Bega raising – The Australian Financial Review
ASX-listed Bega Cheese has drafted in investment bank UBS to help out on its $400 million-odd capital raising to buy Lion Dairy and Drinks.
And those discussions were still continuing on Wednesday evening but were expected to wrap up by Thursday, and the raising would launch shortly after that.
The $400 million cash injection would only partially fund purchase, which is tipped to sell for around $550 million.
Bega beat out Canadian dairy giant Saputo and a consortium spearheaded by Tanarra Capital that included industry super funds Hostplus and Sunsuper, as well as Ruffy Geminder’s Kin Group in the race to acquire Lion Dairy and Drinks.
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