Rubicon deal to sell Clearwood stake within independent adviser's valuation

Thu, 14 Dec 2017

By Paul McBeth Dec. 14 (BusinessDesk) - Rubicon's proposal to sell a 45 percent stake in local Clearwood manufacturing business falls within the independent adviser's valuation range. The forestry biotech's shareholders will vote on the transaction at a special meeting in Christchurch on Jan. 12 on whether to approve the sale of its interest in Tenon Clearwood Ltd Partnership for US$14.2 million, which is the cost of its investment in the company in April, plus its share of the reduction in the company's net debt since then. That is esti...

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