Bega’s money not for Capilano Honey: Irvin

Original article by Eli Greenblat
The Australian – Page: 20 : 11-Sep-18

Bega Cheese announced plans for a $200 million share placement and associated share purchase plan on 10 September. The announcement prompted speculation that it would be using the money raised to launch a counter bid for Capilano Honey, in which it holds a 8.4 per cent stake and which is currently the subject of a $20.06 per share takeover bid from private equity groups Wattle Hill and ROC Partners. Bega executive chairman Barry Irvin claims the money will be used to strengthen its balance sheet and reduce its debt levels, and that it had not made any decisions about Capilano.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, CAPILANO HONEY LIMITED – ASX CZZ, WATTLE HILL, ROC PARTNERS PTY LTD, SAPUTO INCORPORATED, MONDELEZ AUSTRALIA (FOODS) LIMITED

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