Bega vote clears way for Bonlac deal

SYDNEY - Melbourne-based Bonlac Foods says its alliance with the New Zealand Dairy Board has cleared its last hurdle.

In New South Wales, members of the Bega Cooperative voted unanimously in favour of transactions relating to the transtasman deal, which will see the Dairy Board gain a 25 per cent stake in Bonlac for a capital injection of $A80 million ($99 million).

The alliance will create the first major transtasman joint-venture dairy consumer company.

- NZPA