Brief: Arborgen Announces Sale Of New Zealand And Australian Businesses For NZ$22.25M In Cash

Arborgen Holdings

31/10/2021 19:59

Nov 1 (Reuters) - Arborgen Holdings Ltd  ARB.NZ :
    * ENTERED INTO FOR SALE OF ARBORGEN'S NEW ZEALAND AND
AUSTRALIAN
BUSINESSES FOR NZ$22.25M IN CASH
    * SELL OF ARBORGEN ANZ TO GEYSER LIMITED PARTNERSHIP
    * PROCEEDS FROM SALE WILL BE USED TO INVEST IN & EXPAND US &
SOUTH
AMERICAN BUSINESSES, EXPLORE INVESTMENT IN NEW GROWTH
OPPORTUNITIES
    * BOARD BELIEVES THAT SALE PROCEEDS ARE BETTER DEPLOYED IN
HIGHER
GROWTH MARKETS IN U.S. AND BRAZIL
    * SALE IS FORECAST TO CONTRIBUTE ABOUT 15+% OF GROUP REVENUE
IN
FY'22


Further company coverage:  ARB.NZ 

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