Moa asks for cash to buy hospo group for up to $21.4M

Fri, 21 Dec 2018

By Paul McBeth Dec. 21 (BusinessDesk) - Unprofitable beermaker Moa Group will ask shareholders for more money next year to help pay for what could be a $21.4 million acquisition of bar and restaurant owner Savor Group. Moa may need to work hard to convince shareholders to approve the deal, given its value relative to the beermaker's $24.7 million market capitalisation. It will need to raise at least $7.8 million in cash upfront. The NZX-listed company held cash and equivalents of just $793,000 as at Sept. 30 and had burned through cash w...

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