Seeka to sell 20 percent stake in Opotiki Packing back to company for $3.2 million

Mon, 10 Mar 2014

By Suze Metherell March 10 (BusinessDesk) - Seeka Kiwifruit Industries, the fruit grower and coolstore and packhouse operator, has agreed to sell back its 20 percent stake in Opotiki Packing and Cool Storage as part of its response to the PSA outbreak that devastated the industry. The $3.2 million, or $3.76 per share conditional sale needs approval from Opac’s shareholders. Te Puke-based Seeka bought the shares in 2005 for $3.7 million and had intended to take 100 percent ownership before PSA changed the company’s priorities. Seeka chief exe...

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