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.
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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