China Resources acquires 15.4% of Scales from Direct Capital for $55.9 mln

Jonathan Underhill
Tue, 15 Mar 2016

By Jonathan Underhill March 15 (BusinessDesk) - China Resources Ng Fung has acquired 15.3 percent of Scales Corp, New Zealand's biggest apple exporter, for about $55.9 million from Direct Capital Investments. The Hong Kong-based company today entered into an arrangement to buy the shares at $2.60 apiece, with settlement on about March 21. Scales said it welcomed China Resources "as a significant minority shareholder, and as a party who can provide support to Scales in its ongoing initiatives in China." Scales shares rose 7.6 percent to...

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