Friday 25th March 2011 |
Text too small? |
Mainfreight said its shareholders support its acquisition of the Wim Bosman Group following a special meeting in Auckland yesterday.
"Of the votes received, 100% were in favour of the resolution," the company advised NZX.
Investors often doubt offshore expansion plans by New Zealand companies but Mainfreight's share price soared after the acquisition was announced as it has a successful track record in international acquisitions that have diversified its earnings base.
The company told shareholders today that Wim Bosman was a profitable business which would give it a significant footprint in Europe. It had a similar culture to Mainfreight.
The purchase price is NZ$205 million, though an earn out provision could increase this to a maximum of NZ$224 million.
NZPA
No comments yet
Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER