Just Water shareholders approve A$11 mln sale of Australian business

Tue, 28 Apr 2015

April 28 (BusinessDesk) - Just Water International, the water cooler and supplies business 79 percent owned by founder Tony Falkenstein, got the greenlight for the sale of its Australian business for A$11 million, a transaction that will leave it debt free. The Auckland-based company said 76.7 percent of shares on issue voted on the proposal to sell the business to Waterlogic Australia to repay debt and fund growth and 100 percent of those voted in favour. Just Water intends to use the sale proceeds to repay its existing $10.7 million net...

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