NEW ZEALAND: Enza directors recommend shareholders accept Guinness Peat takeover offer
Independent directors at New Zealand pipfruit exporter Enza have recommended the group's shareholders to accept the NZ$1.2 (US$0.5) per share offer made by the Guinness Peat Group (GPG). GPG already holds a 19.9% stake in Enza, and its takeover bid values Enza at NZ$72m. As GPG already has a conditional contract to buy out the 19.9% stake held by FR Partners, it needs to buy just 10.3% of Enza's shares to establish control.
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