Banking syndicate deadline gives Silver Fern too little time to mull alternatives, Grant Samuel says

Fri, 02 Oct 2015

By Jonathan Underhill Oct. 2 (BusinessDesk) - Silver Fern Farms ran out of time to consider alternatives to a 50-50 joint venture with Shanghai Maling Aquarius, because of the looming deadline for its debt facility with a banking syndicate and the risk that lenders would withdraw support and tip the meat company into receivership if the deal isn't consummated, Grant Samuel says. The independent appraisal of Shanghai Maling's $261 million investment proposal concludes that the terms and conditions are fair and the per-share value of $2.84...

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