21 Apr 2011

Agria offer oversubscribed

2:04 pm on 21 April 2011

A consortium led by Agria has received more acceptances to its 60-cent-a-share offer for PGG Wrightson.

The consortium is made up of Chinese firms Agria and New Hope, and Ngai Tahu.

It has agreements totalling a 73% stake in the rural services firm.

Investors who have sold will be scaled back, as Agria wants just over 50% of PGG Wrightson.

The offer closes on Saturday.