CSB - Riley Kennedy -Alliance Group

Alliance Group shareholders have backed the deal to sell 65% of the processor to Ireland’s Dawn Meats.Voting closed on the $270 million deal on Monday after a special meeting in Invercargill.The deal allows Alliance to repay its working capital and restore its balance sheet, with farmers' shareholding reduced to a minority 35% stake through a soon-to-be formed new co-operative.Of the 2,675 voted, representing 88% of shares on issue, 87% backed the deal – meeting the threshold required under the Takeovers Code.'A clear m...

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