Mining billionaire Andrew Forrest splurged $108.3 million to increase his stake to 6.6 per cent of Bega Cheese (ASX:BGA) through his Tattarang AgriFood Investments company.
The snap up of more than 20 million shares occurred between November 10 and December 29.
It also comes after the cheese maker updated shareholders through its trading update this month about the challenges faced by the pandemic amid a highly competitive milk-buying landscape with the company forecasting normalised EBITDA in the range of $195 million to $215 million versus $142 million in the previous financial year. Shares dived to a four month low.
Today shares in Bega Cheese (ASX:BGA) are trading 3.6 per cent higher at $5.52.