Tenon's US operations under US$110M private equity offer

Mon, 29 Aug 2016

By Pattrick Smellie Aug. 30 (BusinessDesk) - Taupo-based wood processor Tenon's US operations are under offer from a New York-based private equity firm for US$110 million that the company's directors say will allow a substantial capital return shareholders, despite a NZ$31 million writedown in the carrying value of the assets to be sold. Shareholders will be asked to approve the deal in November, assuming no better offer appears and that an independent assessment by investment bank Grant Samuel supports the deal. An initial Grant Samue...

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