Rubicon pays 'bargain' price for ArgborGen control

Sun, 26 Nov 2017

By Paul McBeth Nov. 27 (BusinessDesk) - Rubicon says it got a bargain with the US$29 million price to buy out partners in ArborGen after refusing to waive provisions that would have allowed its former co-investors to run a formal sales process for their stakes in the biotech seedling firm. In June, the NZX-listed forestry investor took full ownership of ArborGen, agreeing to pay International Paper and WestRock in a deal that placed a fair value of US$124 million on the seedling firm. Rubicon's annual report, released after trading close...

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