VENTURE CAPITAL POST

Montreal, Canada-based dairy firm Saputo Inc has increased its stake in Australia-based dairy supplier Warrnambool Cheese and Butter Factory Ltd to 20.1%, according to an ASX statement.

Japan-based food and beverage giant Kirin Holdings Ltd has no plans to sell its 9.99% holding in Warrnambool Cheese and Butter Factory Ltd to Canadian firm Saputo Inc as it wants to secure a cheese supply agreement with the latter.

Murray Goulburn Co-operative Co. Ltd. expects a decision from the Australian Competition Tribunal on its bid for Warrnambool Cheese and Butter Factory Holdings Co. by the end of February. Murray Goulburn raised its offer to A$530 million as it faces strong competition with Canada's Saputo Inc.

United Dairy Power, the biggest privately owned milk supplier in Australia, is looking to dispose a stake in the firm to an Australian diary investor for an undisclosed sum.

Bega Cheese Ltd., the largest shareholder in Warrnambool Cheese and Butter Co. Holdings, is reportedly negotiating with other firms including non-Australian investors on a possible sale of its 18.7% stake in Australia's oldest dairy firm.

New South Wales, Australia-based dairy firm Bega Cheese Ltd will consider stake options after dropping out of the three-way takeover contest for Warrnambool Cheese & Butter Factory Co.

Saputo Inc., Canada's biggest dairy company, has extended its bid for Warrnambool Cheese and Butter Factory Co. by a week to next Friday. Saputo is up against Murray Goulburn Co-operative Co. Ltd. and Bega Cheese Ltd. for the Australian dairy firm, according to a Reuters report.

Canada-based milk processor Saputo Inc raised its acquisition offer for Australia-based Warrnambool Cheese & Butter Factory Co to AUD515 million in a three-way bid contest with dairy firms Bega Cheese Ltd and Murray Goulburn Cooperative Co.

An Australian regulator approved the bid of AUD 407 million of Bega Cheese Ltd for the acquisition of Warrnambool Cheese & Butter Factory Co.