December 18, 2018
Ngāi Tahu keeps faith in Wrightsons
Ngāi Tahu Capital has taken a direct stake in PGG Wrightson, holding 3.6 percent of the rural services firm.
Its previous investment in the company had been through a joint venture with Singapore-based Agria and Chinese agribusiness New Hope International.
Those firms still own 46.6 percent of Wrightson, but the Overseas Investment Office is reconsidering whether Agria meets its good character test after the firm and its executive chair Alan Lai settled fraudulent accounting and market manipulation claims brought by the United States Securities and Exchange Commission.
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