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

 

Delegat’s Succeeds With Partial Oyster Bay Offer

NEWS RELEASE 9 AUGUST 2005

Delegat’s Succeeds With Partial Offer For Oyster Bay

Delegat’s has achieved success with its partial takeover offer for Oyster Bay Marlborough Vineyards Limited. It now has acceptances which, together with shares held by it prior to the offer being launched, total 51.66 percent.

“We are delighted with the outcome of the offer, and with the support it has received from so many Oyster Bay shareholders,” Delegat’s Group Managing Director Jim Delegat said.

“The result is a very strong endorsement of the relationship that exists between Delegat’s and Oyster Bay. The shareholders have demonstrated that they support this relationship, on which Oyster Bay was founded six years ago.

The feedback we have received from them shows real enthusiasm for the New Zealand wine industry, and for the benefits of participating in the industry through an established winemaker with a strong global brand.”

Delegat’s offer, through its subsidiary Delegat’s Wine Estate Limited, is $4.00 each per Oyster Bay share, with a target shareholding of 50.1 percent. Under the Takeovers Code, the offer must remain open until the scheduled closing date of Monday 19 September. At the conclusion of the offer period, acceptances in excess of those required to reach the target percentage will be scaled back accordingly.

Delegat’s, established in 1947, is owned and managed by brother and sister team Jim and Rosemari Delegat. It is the largest privately owned winemaker and the third largest wine producer in New Zealand, based on industry data.

Delegat’s has announced its intention to undertake an initial public offering of its shares in the fourth quarter of 2005, and Westpac Banking Corporation has been retained to lead manage the proposed offering.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: