Sharechat Logo

PGG Wrightson to sell 50% stake in NZ Merino Co

Thursday 2nd June 2011

Text too small?

PGG Wrightson is selling its 50% shareholding in The New Zealand Merino Co to Merino Grower Investments (MGI) for $7.625 million.

Provided conditions were met, including approval of the deal by MGI shareholders, settlement was expected to be on June 30, PGG Wrightson said today.

PGG Wrightson managing director George Gould said the agreement supported the vision of merino growers to determine their own destiny through gaining outright control of NZ Merino.

The purchase price for PGG Wrightson's 50% shareholding in NZ Merino was based on an independent valuation by PricewaterhouseCoopers.

 

NZPA



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report