New Zealand’s Direct Capital takes majority stake of Scales Corp.
Auckland-based private equity firm Direct Capital will take a 79.7% stake in local apple exporter and cold storage company Scales Corporation for $44 million, purchasing the asset from South Canterbury Finance, which has been under the receivership since August 2010.
The sale will follow an agreement by South Canterbury to offload Helicopters NZ to Canadian Helicopters, a transaction worth $160 million. Kerryn Downey of McGrathNicol, who has been appointed as the one...
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