Elders gets back in the NZ market, takes 11% stake in PGG Wrightson

(Image: PGG Wrightson)

Thu, 15 Dec 2022

Australian agri-services firm Elders has jumped back into the New Zealand market, taking an 11% stake in NZX-listed PGG Wrightson for just over $37 million.Elders bought the stake from BCA New Continent Agri Hldg in an off-market trade for $4.35 a share, 15 cents higher than PGG Wrightson’s closing price yesterday.It told the ASX on Wednesday the transaction was in line with its geographic diversification strategy and would be funded through debt facilities.EldersElders did not “currently” intend to initiate a proposal to acqu...

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