Saputo is one step closer to acquiring Warrnambool Cheese & Butter Factory, as shareholder and former bidder Bega Cheese agreed to sell its 18.8% stake in the Australian company to the Canadian milk processor. The sale brings Saputo's share in Warrnambool to 45.2% and other shareholders are expected to follow suit. "We're obviously very pleased that Bega has announced it will sell into Saputo's offer and expect many other shareholders will follow Bega's lead," Saputo adviser Sam Prentice said.

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