PGG Wrightson to sell 50% stake in NZ Merino Co

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

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Fonterra reports continued strong performance in FY25
Air NZ issues Australian $300 million Medium Term Notes
KMD - FY25 Annual Results Announcement
Tower successfully renews insurance programme for FY26
September 24th Morning Report
AIA - Auckland Airport considers bond offers
September 22nd Morning Report
September 19th Morning Report
Smartpay Scheme Booklet and Notice of Meeting
September 18th Morning Report