Van Leeuwen was put into receivership by its financer last week.
NZX-listed New Zealand Rural Land Co has entered into a conditional agreement to buy 14 South Island farms from the beleaguered Van Leeuwen Dairy Group for $114 million.
Van Leeuwen was put into receivership early last week by Australian fund manager Merricks Capital, which led a $140m refinancing of the group’s debt in 2019.
The dairy company is 75.06% owned by Aad and Wilma van Leeuwen, with the remaining 24.94% owned by Merricks.
The 14 dairy farming assets in South Canterbury and North Otago total approximately 6350 hectares.
Alongside the purchase agreements, New Zealand Rural Land Co (NZL) also entered
Boards need to view their businesses through a wider lens, says professional director Rob Campbell.
Covid-19 is just one example of how humanity and the rest of nature are colliding and the effects are reverberating through companies and into boardrooms, sparking a need for change, says professional director Rob Campbell. “The way I perceive the world at the moment is that there is a real clash or collision going on between the way human beings have conducted ourselves and nature,” says Campbell. He sees that reflected through a variety of crises spanning Covid-19, the climate, rapidly decreasing biodiversity and growing inequality of wealth and information.
NZ Rural Land buys its first dairy farm for $10.4m
16 Mar, 2021 04:36 AM
2 minutes to read
NZ Herald
Newly-listed New Zealand Rural Land Co (NZL) has bought its first farm - a 456ha dairy farm in Mokoreta, Southland, for $10.37 million.
The company said the purchase, which has a June 1 settlement date, was the first in a series of expected acquisitions.
NZL said the agreement remains conditional on a successful test of an effluent pond on the farm.
Read More a href https://www.nzherald.co.nz/business/us-property-gurus-reveal-10-stake-in-nz-rural-land-co/ZMFZD2QOW3TON6YX52OMQ4THUY/?ref readmore target blank US property gurus reveal 10% stake in NZ Rural Land Co - NZ Herald /a
NZ Rural Land buys its first dairy farm for $10 4m nzherald.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nzherald.co.nz Daily Mail and Mail on Sunday newspapers.
NZ Rural Land lists, may come back for 2021 - Rob Campbell
21 Dec, 2020 04:56 AM
4 minutes to read
New Zealand Rural Land Co (NZRLC) chairman Rob Campbell says the newly-formed property investor plans to raise more capital early next year after just managing to get its initial public offering (IPO) over the line.
NZRLC listed on the NZX today after its fundraising came in at the bottom end of $75 million to $150 million target range, helped along by a last-minute $750,000 injection from Allied Farmers.
The stock - which was to have debuted on last Friday - listed at $1.31, a small premium to its $1.25 issue price.