Receivers overseeing the sale of assets belonging to New Zealand's largest fresh apple exporter, Mr Apple New Zealand, have signed an agreement to sell a 79.71 per cent shareholding in parent company Scales Corporation held by failed New Zealand bank South Canterbury Finance (SCF).
The majority share in Scales, which operates a number of coldstorage facilities as well as apple orchards and packhouses run by its Mr Apple subsidiary, will apparently be purchased for NZ$44m by a consortium of investors including local firm Direct Capital, as well as the New Zealand Superannuation Fund and Accident Compensation Corporation.
Speaking on behalf of the receivers, McGrathNicol, Kerryn Downey confirmed that the proposed sale price of NZ$2 per share would equate to a purchase value of approximately NZ$44m for SCF's shareholding.
The sale will only be finalised once certain regulatory conditions have been met, a process which Downey said was expected to be completed in the coming months.
Mr Apple assets currently held by Scales include 20 orchards, three packhouses and coldstorage facilities, as well as transport and shipping operations.
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