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Tag Archives: Silver Fern Farms

Bright Food provides Silver Fern with letter of comfort

 China’s state-owned Bright Food Group has provided a letter of comfort to Silver Fern Farms that it will vote its 38 percent stake in Shanghai Maling Aquarius in favour of acquiring 50 percent of New Zealand’s biggest meat company. Some 82.2 percent of votes were cast in favour of the transaction at a SFF shareholder meeting in Dunedin today, comfortably exceeding the 50 percent …

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Silver Fern Farms shareholders approve deal to sell 50% stake to Shanghai Maling

Shareholders of Silver Fern Farms have voted in favour of a proposal to sell 50 percent of New Zealand’s biggest meat company to Shanghai Maling Aquarius after the unit of China’s state-owned Bright Food Group offered $261 million of cash, a special dividend and money to bankroll the cooperative for seven years. Some 82.2 percent of votes were cast in favour of the transaction, …

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Silver Fern could stay NZ-owned for as little as $25k per farmer

Silver Fern Farms could be kept in cooperative ownership for as little as $25,000 per farmer and the meat company’s board would be irresponsible not to consider a “plan B” if it fails to garner support for its proposal to sell half the business to Shanghai Maling Aquarius, says an opponent of the deal. SFF shareholder John Cochrane this week circulated an …

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Chinese firm may take 50% of Silver Fern Farms, increasing market dominance, shareholders say

Chinese interests may be close to acquiring 50 percent of Silver Fern Farms, in a deal that would increase the dominance of New Zealand’s biggest meat exporter and erode farmer control of the industry, say shareholders pushing for a merger with Alliance Group. Dunedin-based SFF has been seeking a $100 million capital injection to strengthen its balance sheet before banking facilities expire in October …

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Silver Fern Farms and Alliance have another crack at meat industry reforms

The two shareholder groups representing Silver Fern Farms and Alliance farmers have joined forces in a bid to encourage the two meat cooperatives to follow suit and work collaboratively. Each shareholder group has separately gained the 5 percent farmer support needed to call special meetings of their respective cooperatives to try and force the boards to investigate the benefits and risks of …

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Silver Fern Farms suspends shares pending capital raising news

Meat processor Silver Fern Farms has suspended trading of its shares on the Unlisted exchange until further notice as it continues with its capital raising initiatives. The company said it would make no further comment at this stage. Shares in the co-operativee last traded at 35 cents, valuing SFF at $35.1 million The farmer-controlled co-operative has more than 6,200 shareholders …

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Alliance shareholders force a special meeting on benefits of industry amalgamation

Disgruntled Alliance Group shareholders have gathered sufficient support to force a special meeting to discuss the potential benefits and risks of a merger with fellow cooperative Silver Fern Farms. Balfour farmer Jeff Grant, who along with rural accountant and farmer, Gaye Cowie, have been gathering the required 5 percent of proxy forms needed to force the special meeting, say they …

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Vale Craig Norgate (1965-2015)

As news of Craig Norgate’s sudden death rippled around the world –  friends, colleagues, and business partners took to social media to share their shock, grief, and war stories. Norgate was Fonterra’s first CEO and a galvanic business leader who died at just 50. NZ INC. checks in on some messages that paint a picture of this out-of-the-ordinary man. “He …

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