NZ Farming Systems Uruguay Limited
Transaction Type: Takeover (Full)
Offeror: Olam International Limited
Independent Adviser(s): Simmons Corporate Finance (Rule 21)
Offer commencement date: 18/10/2012
Offer closing date: 30/11/2012
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.
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