27 Apr 2011

Bid for PGG Wrightson now unconditional

9:00 am on 27 April 2011

The Agria consortium bidding for PGG Wrightson has declared its offer unconditional.

The consortium, which is comprises Agria and New Hope of China, and Ngai Tahu, was offering 60 cents per share for 50% of PGG Wrightson.

But because it has received acceptances from more than 77% of shareholders, investors who have sold will be scaled back.

The offer closed on Saturday. The final number of shares that will be acquired from each acceptor is yet to be finalised.