Fernz Nufarm plan
PA Wellington Fernz Corp will ask its shareholders next month to approve a full takeover of Nufarm, Ltd, a 72.5 per cent-owned Australian subsidiary. The Fernz annual meeting, on October 8, will receive a directors’ proposal to issue 7,518,519 ordinary 100 c shares at a premium of 170 c each to
acquire the minority interests in Nufarm.
Fernz picked up 65 per cent of the company in 1982, and moved to its present holding earlier this year. The Fernz chairman, Mr W. Wilson, said in a statement yesterday Nufarm would be a vehicle for his company’s offshore expansion. It was planned early in
1988 to integrate the domestic agrovet trading activities of Fernz into Nufarm, building an Australasian agrovet marketing and manufacturing company with a turnover of more than $165 million. The further acquisition in Nufarm is subject to clearance by the Australian Foreign Investment Review Board.
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Press, 12 September 1987, Page 31
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150Fernz Nufarm plan Press, 12 September 1987, Page 31
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