Today, Allied Farmers Limited has exercised its call option to purchase the remaining 50 percent of NZ Rural Land Management.
The Independent Directors Committee, which was established earlier this year, advised that the acquisition would be beneficial for Allied Farmers and should be completed as soon as possible.
The purchase price will be determined by a third party valuer and shareholders will be asked to approve the transaction at a Special Shareholders Meeting in the first quarter of 2023.
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