Saputo divesting plant in Australia

 Saputo Inc. is in discussions with Australian anti-competition bureaucrats over its purchase of Murray Goulburn Co-operative for $380 million.

Saputo may sell the Koroit dairy plant in Victoria to address concerns that dairy farmers would lack processor competition for their milk.

Saputo has no such concerns in Canada where it is the dominant milk-processing company, but farmers hold a monopoly on milk supplies through their provincial marketing boards.