Yili deal a timely cash injection for Westland farmers - ANZ

Yili deal a timely cash injection for Westland farmers - ANZ
Rebecca Howard
By Rebecca Howard May 22 (BusinessDesk) - Westland Milk Products farmers will bank - on average - $572,000 from the sale of their shares to Inner Mongolia Yili Industrial Group if the deal goes ahead, says ANZ Bank New Zealand. Westland signed a conditional agreement to sell the cooperative for $3.41 a share in a deal worth $588 million, including debt and liabilities. Shareholders will vote at a special meeting on July 4. The deal also requires High Court approval, consent under the Overseas Investment Act, and completion of other custom...

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