No notification of Zuellig intention: PGG Wrightson

Thursday 3rd March 2011

PGG Wrightson has moved to clarify the interest being shown in the company by Hong Kong-based investment company Zuellig Group.

Last week Zuellig put out a statement saying it was looking at a number of options for investment in PGG Wrightson.

Today PGG Wrightson said it was not aware of the nature of Zuellig's interest beyond what had been reported.

"PGG Wrightson has not received notification of an intention by Zuellig to lodge a formal takeover offer."

It had received initial contact from Zuellig, but no meeting to discuss the nature of Zuellig's interest had yet been held, PGG Wrightson said.

In its statement, Zuellig said the options it was looking at included potentially a strong cornerstone shareholding position.

PGG Wrightson is already the subject of a partial takeover offer led by Chinese investor Agria, which is seeking to move from 38.3% ownership to control at 50.01%. That offer is open until April 15.

NZPA

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