Comvita to take full control of China JV

Tue, 09 Apr 2019

By Rebecca Howard April 10 (BusinessDesk) - Honey company Comvita has entered a conditional agreement to acquire the remaining 49 percent of its China joint venture, Comvita Food and Comvita China, for about $20 million. Comvita will acquire the JV by issuing 4.05 million new Comvita ordinary shares at $4.35 per share and an additional cash payment of $3.19 million. The acquisition will be earnings accretive immediately on a per share basis, it said. “This completes the ‘final piece of the jigsaw’ with respect to our China Strategy,...

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