Westland inks conditional $588m deal to sell to Yili

Mon, 18 Mar 2019

By Rebecca Howard March 19 (BusinessDesk) - Westland Co-operative Dairy Company has signed a conditional agreement to sell the co-operative to Inner Mongolia Yili Industrial Group for $3.41 per share in a deal worth $588 million, including debt and liabilities. The proposed transaction is through a scheme of arrangement and requires the approval of 75 percent or more of the votes of shareholders, in each interest class, who vote. It must also be approved by shareholders holding more than 50 percent of the shares eligible to be voted. ...

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