Irish media group Independent News & Media is backing the board of APN News & Media to grow shareholder value, as the Australasian publisher and broadcaster considers carving out its New Zealand unit.… Full Story →
APN News & Media, which publishes the New Zealand Herald, may list its New Zealand business on the local sharemarket.… Full Story →
Fonterra Cooperative Group will offer a premium of at least 20 percent for a one-fifth stake in Beingmate Baby & Child Food as part of a $615 million investment in a partnership to drive baby food sales into China.… Full Story →
Fonterra Cooperative Group plans to enter a joint venture with China’s Beingmate that will own the dairy giant’s Darnum plant in Australia and produce infant formula products for the Chinese market, for a total investment of $615 million.… Full Story →
Air New Zealand, the government-controlled national carrier, boosted annual profit 45 percent as increased passenger numbers and capacity lifted earnings, and will pay a special dividend after reviewing its capital structure.… Full Story →
Shares in A2 Milk Co jumped 9.8 percent from a 15-month low on news the milk marketer has won Chinese regulatory approval to export its a2 Platinum infant formula.… Full Story →
Queenstown Lakes District Council has advice its convention centre plan is legal and financially viable even though many other convention facilities are in various stages of development around the country.… Full Story →
Hirepool’s 64 percent owner, Australian private equity firm Next Capital, has abandoned plans to sell shares in a $262 million initial public offering after concern from institutional investors that on market support for shares of the unprofitable equipment rental company wouldn’t be strong enough.… Full Story →
Investors punished Synlait Milk shares after the dairy processor was forced to wind back the bullish profit forecast it gave in January because of disruptions from increased Chinese regulations on infant formula and unfavourable foreign exchange movements.… Full Story →
New Zealand-founded bio-fuels innovator LanzaTech has attracted US$60 million in its latest capital-raising round, including a US$20 million commitment from Japanese industrial conglomerate Mitsui, which will join the LanzaTech board.… Full Story →
- Pacific Edge appoints McKinsey almumni Sitch to board
Pacific Edge, the non-invasive bladder cancer test maker, has appointed former McKinsey & Co consultant Charles Sitch to its board.
- Pyne Gould looks to oust EPIC directors, boost its stake to 49%
Pyne Could Corp, the asset management firm controlled by George Kerr, is seeking the removal of two directors of Equity Partners Infrastructure Company No.1, as it looks to boost its stake to almost half.
- Warehouse rated a ‘sell’ as investors await proof 2015 will show return on investments
Warehouse Group faces a year of reckoning as investors await evidence that New Zealand’s largest listed retailer will get a return on the hundreds of millions of dollars spent overhauling stores and buying new businesses in the past couple of years.
- Seniors Money would sell 9.4% Heartland stake when escrow lifts
Seniors Money International, which sold its ‘home equity release’ mortgage business to Heartland New Zealand for $87 million this year, would sell the 9.4 percent stake it got in the lender as part payment once a 12-month lock-up ends for the shares.
- Berry company OOB wins ice-cream contracts in China
Berry company OOB has sealed two deals with Shanghai-based companies to sell its organic ice-cream.