New Zealand’s biggest apple exporter Scales Corporation has welcomed China Resources as a new yet significant minority shareholder.
Hong Kong-based China Resources is acquiring 21,500,000 shares in Scales (representing 15.38%) from Direct Capital Investments Limited. It is buying the shares at $2.60 apiece, with settlement on about March 21.
According to its website China Resources Ng Fung are part of a globally integrated food group with operations in rice production, food research and development, production, processing, wholesale, retail, transportation, and international trade.
Scales says China Resources can provide support into ongoing initiatives in China.
