Alliance has reached a $270million deal with Dawn Meats.
2,600 farmer-shareholders voted 87% in favour of selling 65% of the company arm to the Irish-backed company.
The new investment is expected to strengthen Alliance’s balance sheet, pay down debt and enable greater capital growth.
Spokesperson for Alliance shareholders Jeff Grant told Mike Hosking that ‘The company was forced into a position of having to find new equity.’
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The Mike Hosking Breakfast