Archive for December, 2010

Australia’s Symex Holdings Ltd subsidiary invests in New Zealand’s White King and Janola Business

Comments Off | 12-31-2010

Symex Holdings Limited announced its subsidiary had invested in an expansion strategy in New Zealand. Under the investment, the said subsidiary Symex and Pental Products Pty Ltd, a wholly owned subsidiary of Symex, entered into an agreement with Sara Lee Corporation and its related entities to purchase the White King and Janola Business. The White [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General | Read More

PGG Wrightson asks shareholders to hold off sale as it evaluates a joint bid by Agria and another Chinese firm

Comments Off | 12-30-2010

New Zealand agricultural services firm PGG Wrightson has asked its shareholders to delay selling as it ponders the joint bid offered by Agria and another Chinese firm. Agria is PGG Wrightson’s cornerstone shareholder and its joint bid is seeking to acquire a majority stake in the New Zealand firm.
On Friday, New York-listed Chinese company Agria [...]

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Posted in Agriculture New Zealand, Foreign Direct Investment/FDI New Zealand, General | Read More

Infratil Australian unit mulling bid for New South Wales energy assets privatization

Comments Off | 12-29-2010

Infratil, New Zealand infrastructure investor reiterated that it is mulling a possible offer for the A$5.3 billion ($7.1 billion) privatization of energy assets in New South Wales. According to the firm, its Australian unit may participate in a second round of asset sales in the state, reported the New Zealand Herald.
Under the New South Wales [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General, Infrastructure NZ | Read More

State owned farmer Landcorp is still interested in buying the 16 Crafar farms

Comments Off | 12-28-2010

Even after its offer being turned down initially, state owned firm Landcorp is still interested in the Crafar Empire. Government appointed receivers KordaMentha turned down Landcorp’s multimillion-dollar bid back in July, arguing that the company “was not among the preferred tenderers,” reported the New Zealand Herald.
Just last week, Chinese firm Natural Dairy, had its bid [...]

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Posted in Agriculture New Zealand, Foreign Direct Investment/FDI New Zealand, General | Read More

China’s interest in New Zealand agriculture on the steady, despite Crafar Farms bid failure

Comments Off | 12-28-2010

The Otago Daily Times reported that China’s interest in New Zealand agriculture is maintaining a steady interest. Just last week, Agria offered a partial takeover of rural servicing company PGG Wrightson (PGGW), with the Chinese firm’s head terming the move “pure business move.”
Chinese agribusiness companies Agria of Beijing and New Hope Group of Sichuan, on [...]

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Posted in Agriculture New Zealand, Foreign Direct Investment/FDI New Zealand, General | Read More

Chinese firm Agria Corp to hike its shareholding in PGG Wrightson in New Zealand

Comments Off | 12-25-2010

Agria Corporation together with China-based New Hope Group today announced a partial takeover offer for PGG Wrightson Limited (PGW). The offer will be made by Agria (Singapore) Pte Ltd, which will be jointly owned, directly or indirectly, by Agria and New Hope. Agria (Singapore), a wholly owned subsidiary of Agria Corporation, currently holds a 19.01 [...]

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Posted in Agriculture New Zealand, Foreign Direct Investment/FDI New Zealand, General | Read More

Chinese firm Natural Dairy fails in bid to buy 16 Crafar farms for $200 million

Comments Off | 12-24-2010

NZ Herald reports Hong Kong firm Natural Dairy has flopped in its plans to buy the Crafar farms. Natural Dairy, together with its New Zealand sister firm UBNZ Asset Holdings have been engaged in a long protracted battle to acquire the Crafar empire. The Chinese company was to buy the 16 Crafar farms for $200 [...]

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Posted in Dairy Investment NZ, Foreign Direct Investment/FDI New Zealand, General | Read More

Adventus terminates acquisition to buy the coal mining rights and assets in New Zealand from Medha International

Comments Off | 12-23-2010

Adventus Holdings Limited said on Wednesday that its subsidiary, Adventus NZ Limited, has served notice of its intention to terminate plans to buy the coal mining rights and assets in New Zealand from Medha International Limited for US$8.60 million. The proposed acquisition was to mark Adventus’ first venture into the resource development business.
The company said [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General, Mining Investment New Zealand | Read More

Todd Energy to set up a $100 million gas-fired power station alongside its McKee oil and gas production station

Comments Off | 12-22-2010

Todd Energy is mulling the construction of an $100 million gas-fired power station along with its McKee oil and gas production station near Waitara in Taranaki. Richard Tweedie, Todd managing director said the new station would be capable of generating up to 100 megawatts (MW) of electricity, enough to power up to 100,000 homes.
Speaking to [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General | Read More

Building and Industrial products company Crane Group asks shareholders to reject Fletcher’s offer

Comments Off | 12-21-2010

The board of building and industrial products company Crane Group Limited Monday rejected as inadequate a takeover offer from New Zealand’s Fletcher Building Limited. The consideration of one Fletcher Building share and A$3.43 in cash for each Crane Group share is inadequate and undervalues the company, said Crane in a press release.
It further stated that [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General | Read More