Tegel set to de-list as Bounty crosses 90% threshold

Thu, 23 Aug 2018

By Paul McBeth Aug. 24 (BusinessDesk) - Tegel Group Holdings is set to de-list from the NZX after Bounty Fresh Foods crossed the 90 percent threshold in its $437.8 million takeover bid ensuring it can force hold-out shareholders to sell. The Philippines poultry company owned 13 percent of NZX-listed Tegel when announcing the $1.23 per share takeover in April, effectively securing control through a lock-up arrangement with cornerstone shareholder Affinity Equity Partners and its 45 percent stake. The offer got the blessing of Tegel's boar...

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