Rubicon shareholders give green light for sale of Tenon Clearwood stake

Fri, 12 Jan 2018

By Rebecca Howard Jan. 12 (BusinessDesk) - Shareholders have voted in favour of Rubicon's proposal to sell a 45 percent stake in Tenon Clearwood Partnership, a large clearwood sawmill and manufacturing operation in Taupo. The US$14.9 million purchase price - including its share of the latest reduction in the company's net debt - fell towards the middle of the Grant Samuel range, which was US$13.2 million-to-US$17.8 million and 99.9 percent of the shares voted at today's special meeting in Christchurch were in favour, the forestry biotech...

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