OIO approves Bounty Holdings bid to buy Tegel Group, offer now unconditional

Mon, 24 Sep 2018

By Rebecca Howard Sept. 24 (BusinessDesk) - The Overseas Investment Office has approved a bid by Bounty Holdings New Zealand to buy Tegel Group Holdings, and the offer has been declared unconditional. The Philippines poultry company owned 13 percent of NZX-listed Tegel when formally lodging the $1.23 per share takeover in May. This effectively secured it control through a lock-up arrangement with cornerstone shareholder Affinity Equity Partners, which has a 45 percent stake. The offer got the Tegel board's blessing in June. In late Au...

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