Shanghai Maling completes purchase of controlling stake in Silver Fern Farms

Tue, 06 Dec 2016

By Edwin Mitson Dec. 6 (BusinessDesk) - China's Shanghai Maling has completed its purchase of a controlling stake in Silver Fern Farms. The Chinese company has paid $267 million in cash for a 50 percent stake in Silver Fern Farms, which includes certain voting rights on the board. The deal had been due to complete by Jan. 4, 2017, but SFF said last month that it aimed to tie up the sale by the end of the year. The cooperative now holds $57 million in cash, alongside its 50 percent stake in the new business. The redemption of approxim...

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