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Primary Industries
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Chinese investor sells its stake in Scales Corporation

China Resources says a change in strategic direction is the reason for the sale.

Scales managing director Andy Borland says the sale is good news for both companies.

Karyn Scherer Thu, 24 Oct 2024

Chinese conglomerate China Resources has sold its 15% stake in New Zealand’s biggest apple exporter, Scales Corporation, pocketing a profit of about $17 million.

The investment company bought its stake in the Christchurch-based agribusiness in March 2016, paying $2.60 a share to private equity

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Karyn Scherer Thu, 24 Oct 2024
Contact the Writer: karyn@nbr.co.nz
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Chinese investor sells its stake in Scales Corporation
Primary Industries,
106421
true