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Silver Fern Farms sells PGG Wrightson stake
Friday October 16, 04:18 PM
Silver Fern Farms said it has sold 10 million shares in PGG Wrightson on the market in a range between 73c at 79c a share.
Silver Fern Farms gave notice of an intention to sell some or all of its shares in PGG Wrightson a month ago.
The notice was given under a settlement agreement between the two companies after a failed merger.
Under that settlement PGG Wrightson issued Silver Fern Farms 10 million ordinary shares ranking equally with existing shares.
PGG Wrightson last year defaulted on a plan to buy 50 percent of Silver Fern Farms for $220m.
PGG Wrightson separately announced today that Beijing-based Agria Corporation is becoming a cornerstone shareholder in PGG Wrightson.
Stockbrokers said the deal is conditional and investors remain wary until PGG Wrightson reveals the extent of its capital needs.
Source:
- Cavalier Corporation Limited (NZX: CAV.nz)
- Contact Energy Limited (NZX: CEN.nz)
- Fisher & Paykel Healthcare Corporation Limited (NZX: FPH.nz)
- Hellaby Holdings Limited (NZX: HBY.nz)
- Michael Hill International Limited (NZX: MHI.nz)
- New Zealand Exchange Limited (NZX: NZX.nz)
- Nuplex Industries Limited (NZX: NPX.nz)
- Port of Tauranga Limited (NZX: POT.nz)
- Telecom Corporation of New Zealand Limited (NZX: TEL.nz)
- TrustPower Limited (NZX: TPW.nz)
- Auckland International Airport Limited (NZX: AIA.nz)
- Fletcher Building Limited (NZX: FBU.nz)
- Fisher & Paykel Appliances Holdings Limited (NZX: FPA.nz)
- Cavalier Corporation Limited (NZX: CAV.nz)
- Contact Energy Limited (NZX: CEN.nz)
- Fisher & Paykel Appliances Holdings Limited (NZX: FPA.nz)
- Freightways Limited (NZX: FRE.nz)
- Hallenstein Glasson Holdings Limited (NZX: HLG.nz)
- New Zealand Exchange Limited (NZX: NZX.nz)
- Restaurant Brands New Zealand Limited (NZX: RBD.nz)
- Sanford Limited (NZX: SAN.nz)
- Sky City Entertainment Group Limited (NZX: SKC.nz)
- Telecom Corporation of New Zealand Limited (NZX: TEL.nz)
- The Warehouse Group Limited (NZX: WHS.nz)
- Fletcher Building Limited (NZX: FBU.nz)
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