NZX exits Clear Grain Exchange, subject of years-long court wrangle

Thu, 03 Nov 2016

By Paul McBeth Nov. 4 (BusinessDesk) - NZX has sold the Clear Grain Exchange to the operation's head, Nathan Cattle, for an undisclosed sum, exiting a business that's incurred multi-million dollar legal costs over a dispute with the previous owners. The terms of the sale are confidential, but not material to group earnings, and the deal is scheduled to complete on Dec. 1, the Wellington-based company said in a statement. The grain exchange was valued at $1.3 million as at Dec. 31. The stock market operator announced the sale as part...

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