Montreal-based dairy processor Saputo has announced the closing of the secondary offering of common shares by companies controlled by Emanuele (Lino) Saputo or members of his family. The shareholders sold 7,635,000 common shares of the company at a price of US$32.75 per share, for proceeds in the aggregate of C$250m (US$164.8m). Net proceeds after deducting the underwriters' fee, amounts to about C$240m.