Bright Food provides Silver Fern with letter of comfort over Shanghai Maling vote

By Jonathan Underhill
Oct. 16 (BusinessDesk) - China's state-owned Bright Food Group has provided a letter of comfort to Silver Fern Farms that it will vote its 38 percent stake in Shanghai Maling Aquarius in favour of acquiring 50 percent of New Zealand's biggest meat company.
Some 82.2 percent of votes were cast in favour of the transaction at a SFF shareholder meeting in Dunedin today, comfortably exceeding the 50 percent threshold the board had set. An alternative funding proposal that would keep the cooperative in New Zealand hands f...
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