Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NZ$117 Million Tasman Agriculture Deal Signed

Dairy Holdings Ltd
Joint Media Statement

Monday 23 April 2001 For Immediate Release


South Island farming consortium, Dairy Holdings, has bought BIL’s 66% shareholding in Tasman Agriculture for NZ$117 million. The transaction, signalled last month, was signed on Friday. It will be settled in mid-June.

Mr Alan Pye, leader of the Dairy Holdings consortium, said he was pleased the deal had been finalised.

“We are looking forward to working with Tasman Agriculture’s management,” he said.

Mr Greg Terry, Managing Director of BIL, said his company believed Tasman Agriculture had reached its maximum value under its ownership and that it was time for other investors to take the company forward.

“Our profit, based on current book value, is approximately NZ$25 million. Based on historic cost, our realisation would be significantly more,” he said.

Mr Terry said the sale was the second major transaction completed by BIL’s New Zealand team in the last six months.

“With the sale of our shareholding in Sealord Ltd for NZ$207 million and the sale of a number of properties and non-core assets, today’s transaction means our New Zealand team, led by General Manager Arun Amarsi, has successfully released more than NZ$350 million in the last six months,” he said. “We now have the funds to actively pursue new investments and that work is already underway.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>