Offeror(s): Olam International Limited

Independent Adviser(s): Simmons Corporate Finance (Rule 21)

Offer Date: 18/10/2012

Closing Date: 30/11/2012

Offer Type: Full

Compulsory Acquisition

Summary of transaction:

Olam International Limited (“Olam”) was the largest shareholder in NZ Farming Systems Uruguay Limited (“NZS”) with an 85.94% shareholding.

On 18 October 2012, Olam made a full cash takeover offer for NZS at an offer price of $0.75 per share.

The offer was conditional on Olam receiving acceptances which would result in Olam’s shareholding in NZS exceeding 90%. Olam announced on 12 November that it had become the dominant owner for the purposes of the Code. On 26 November, Olam exercised its right to acquire all of the remaining shares in NZS under the compulsory acquisition provisions of the Code.

The offer closed on 30 November 2012.

 

We have not received consent to publish other documents in relation to this transaction on our website. However, copies of these documents are available upon request to the Panel under the Official Information Act 1982. Please send your written Official Information requests to takeovers.panel@takeovers.govt.nz