Japan's Maruha Nichiro buys minority stake in Sanford at 7.6% discount

Mon, 07 Mar 2016

By Paul McBeth March 8 (BusinessDesk) - Japanese food group Maruha Nichiro Corp has bought a 4.7 percent stake in local fishing company Sanford at a 7.6 percent discount in an off-market transaction with interests associated with Goodfellow family. On March 4, Avalon Investment Trust, Sanford's second-biggest shareholder, sold 4.4 million shares to Maruha for $25 million, according to a substantial shareholder notice lodged with the NZX. That equates to $5.70 a share, less than the $6.17 price the shares were trading at before the transac...

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