Bright Foods unit to acquire 50% of Silver Fern Farms, inject $261 mln

Mon, 14 Sep 2015

Sept. 15 (BusinessDesk) - Shanghai Maling Aquarius, a listed subsidiary of China's state-owned Bright Foods, will acquire 50 percent of Silver Fern Farms in a deal that will see it inject $261 million into New Zealand’s biggest meat exporter, Silver Fern's existing farmer-shareholders, some of whom object to a loss of control of the meat company to offshore interests, will be paid 30 cents a share as a special dividend as part of the deal, the company said. The deal is subject to both approval from shareholders and the Overseas Investment Co...

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