PGW to sell Canterbury Saleyards stake

Last updated 13:32 07/01/2010

Relevant offers

Industries

Coke targets 'foodies' as more people move away from fizzy New World Lower Hutt to become a pop-up supermarket Party pill pioneer Matt 'Starboy' Bowden to accept bankruptcy from Thailand Eight week extension to Kaikoura business support package We just don't love the mall like we used to: Justin Kean Guilty verdicts in Auckland roading corruption case Ngai Tahu, Ngati Whatua have top financial performance of iwi Queenstown swim coach Jane Hughes closes business after losing battles with council Liquidators find $9m in suspected ponzi but 'substantial funds' transferred Fairfax New Zealand confirms bid but no discussions on possible sale

PGG Wrightson (PGW) is to sell 50 percent of its shares in Canterbury Saleyards Co, which holds leases on the Canterbury Park Saleyards complex, to South Island stock and station firm Rural Livestock.

The companies today said Rural Livestock had taken part in auctions at Canterbury Park since the complex was established, operating under a licence arrangement to the Canterbury Saleyards Co.

In November, Rural Livestock indicated it wanted a more binding and longer term relationship with PGW in Canterbury Park Saleyards.

Following negotiations, the companies had agreed to 50/50 ownership of the saleyards company, with the new shareholding agreement planned to be in place by March 1.

Ad Feedback

- NZPA

Special offers

Featured Promotions

Sponsored Content