PGW to sell Canterbury Saleyards stake

Last updated 13:32 07/01/2010

Relevant offers

Industries

More West Coast job cuts if contractor shifts ANZ censured over Fair Trading Act breach involving farmers Auckland Council to pay nearly $24m in Nautilus leaky building case Fisher & Paykel Healthcare posts record full year profit Auckland housing land released by Crown Pit of despair as job losses hit Waihi Wellington Gold Awards finalists 'exceptional' Company under SFO probe goes into receivership Meridian Energy's Project Central Wind consent gets five-year extension Just desserts for Tip Top boysenberry at awards night

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