Seeka looks to acquire Northland's Orangewood

Tue, 14 Sep 2021

Seeka is looking to snap up Northland kiwifruit business Orangewood in a transaction that values the target company at $6.55 million.The NZX-listed company has offered 0.6630 new Seeka shares and $1.35 in cash for every Orangewood share. The issue price for each new Seeka share is $5.33.The amalgamation deal values Orangewood’s net assets at $4.71m. Seeka will also take on about $1.84m of Orangewood's debt.“Seeka expects the amalgamation will be accretive to shareholders upon full integration, with the bigger business generating...

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