Ngāi Tahu backs out of Agria deal, takes direct stake in Wrightson

Sun, 16 Dec 2018

By Paul McBeth Dec. 17 (BusinessDesk) - Ngāi Tahu Capital has taken a direct stake in PGG Wrightson, ending a seven-year relationship with Singapore-domiciled Agria as the foreign investor's grip on the rural services firm remains uncertain. Last Friday, the investment arm of the South Island iwi ended an agreement that pooled its investment in Wrightson with Agria and Chinese agribusiness New Hope International. Ngāi Tahu Capital was a junior partner in the joint venture with a 7.24 percent stake. At the time, it touted the $15 million...

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