Weston sells Neilson Dairy to Saputo

George Weston Ltd. has sold its Neilson Dairy business to Saputo Inc. for $465 million.

[Canada]

... Weston, whose other subsidiary is Loblaw Cos.,

Canada's largest supermarket operator,

said the transaction is expected to close Nov. 24,

subject to approval by the Competition Bureau.

Weston expects to book after-tax cash proceeds of

$390 million on the sale of Neilson,

which produces an annual pre-tax operating profit of about $50 million...