Allied Farmers Limited to acquire 50% stake in NZRLM | NZ |

Allied Farmers Limited (NZX:ALF) announced the signing of a conditional agreement for the acquisition of 50% stake in New Zealand Rural Land Management Limited Partnership (NZRLM) in a deal worth NZ$ 2.5 million.

The acquisition price shall be paid through 5 million shares of ALF @50 cents per share. The deal will also offer call option for ALF to acquire the remaining 50% NZRLM after two years’ time frame based on an independent evaluation.

Allied Farmers informed that they would seek for the approval of shareholders for the deal very soon.

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