Offeror(s): BayWa Aktiengesellschaft

Independent Adviser(s): Northington Partners Limited (Rule 22), KordaMentha (Rule 21)

Offer Date: 09/12/2011

Closing Date: 07/03/2012

Offer Type: Full

Transaction summary:

On 9 December 2011, BayWa Aktiengesellschaft (“BayWa”) made a full takeover offer for all the shares in Turners & Growers Limited (“Turners”).

The offer was due to close on 9 January 2012, but was extended twice before eventually closing on 7 March 2012. BayWa declared the offer unconditional on 7 March 2012, informing the market that it had received all consents required under the Overseas Investment Act 2005.

As at 13 March 2012, BayWa held 73.068% of the voting securities in Turners.

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

Key Documents

Independent Adviser Report(s):