Tenon in exclusive talks to sell remaining NZ operations

Thu, 22 Dec 2016

By Paul McBeth Dec. 23 (BusinessDesk) - Tenon, which sold its US operations for US$110 million, is in exclusive talks with a potential buyer of its remaining New Zealand assets, which would see the former Fletcher Challenge entity wound up. The company today distributed US$71 million to shareholders, cancelling one out of every two shares held and returning $2.20 per cancelled share, and has entered exclusive talks with one party with the goal of signing a sale and purchase agreement for its Clearwood New Zealand business, it said in a s...

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