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.
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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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