Wrightson gets OIO approval to sell seeds unit, still mulling size of return

Wed, 17 Apr 2019

By Paul McBeth April 18 (BusinessDesk) - PGG Wrightson has cleared the final hurdle to sell its seeds division to DLF Seeds for $434 million after securing Overseas Investment Office approval, but still hasn't figured out how much to return to shareholders. Now the OIO has signed off on the transaction, the rural services company anticipates the deal to settle either this month or May. The Danish cooperative will pay $413 million for the Wrightson unit and take on $21 million of net debt, leaving the New Zealand firm with a cash surplus...

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