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

 

Agria repays $5 million loan, interest owed to LIC

Agria repays $5 million loan, interest owed to Livestock Improvement

Dec. 4 (BusinessDesk) - Livestock Improvement, the farmer-owned bull semen and dairy genetics company, said China’s Agria has made early repayment on the balance of a loan that allowed it to take control of PGG Wrightson.

LIC provided the loan as part of Agria’s $144 million partial takeover of Wrightson in 2011 and last year gave the Chinese company until March 2014 to repay the balance, extending an earlier deadline. The funding allowed Agria to take control of New Zealand’s biggest rural services company including its valuable portfolio of proprietary seeds.

LIC today said Agria “has repaid the $5 million principal outstanding on the loan from LIC together with all interest owed up to this point. The payment marks early settlement of the balance of a loan of $10 million made by LIC to Agria in April 2011.”

LIC's shares last traded at $6.50 and have gained 20 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Energy Resources Aotearoa: Doubling Of Coal Use Shows Need For Local Natural Gas

New figures showing a near doubling of coal-fired electricity generation highlight New Zealand’s energy shortage and the need for natural gas as a lower carbon alternative, according to Energy Resources Aotearoa... More>>


E Tu: ‘Sense Of Mourning’ As Norske Skog Mill Set To Close

Workers at Norske Skog’s Tasman Mill now know they’ll be losing their jobs in little over a month’s time.
On Wednesday afternoon, workers were told the mill will be stopping production from the end of June... More>>




Stats NZ: Card Spending Sees Strong Growth In May

Seasonally adjusted card spending rose by $189 million (2.3 percent) between April 2021 and May 2021, Stats NZ said today.
Spending rose across all industries for the first time since New Zealand moved to level 1 in June 2020... More>>


Catalist: NZ’s New SME Stock Exchange, Gets Licence To Go Public

New Zealand has a new stock exchange – designed specifically for small and medium-sized businesses (SMEs) to raise up to $20 million a year from the public.
Called Catalist, the exchange has already been successfully working the private investment sector.... More>>

E-Commerce: Over 40% Of Those Engaged In The Bitcoin Community Are Millennials

Bitcoin has emerged to be a popular topic among millennials with digital currency increasingly being viewed as a potential source of creating wealth through investments. The interest in bitcoin by millennials signals the role this age group plays in the possible realization of the digital currency’s mass adoption... More>>



Stats NZ: New Zealand Is Getting Drier

While there is natural variation in precipitation due to seasons and cycles, New Zealand appears to be getting drier, Stats NZ said today... More>>