Chinese fruit exporter Golden Wing Mau Agricultural Produce has built up a 19.99% stake in T&G Global [NZX: TGG], paying an 18% premium to make it the second biggest shareholder in the local company…Full Article: National Business Review July 2016

Key Point

  • The 19.99% purchase by Golden Wing Mau must pass Chinese regulatory approval by 15 September 2016.

ChinaAg Comments

  • In December 2015, Golden Wing Mau Agricultural Produce Corporation and Joyvio Group, subsidiary of Legend Holdings (HKG:3396), announced they would merge.
  • Founded in 2012 and headquartered in Beijing, Joyvio Group, subsidiary of Legend Holdings (HKG:3396), is a Chinese producer and distributor of blueberries, kiwifruit, cherries, tea, and wine. Joyvio Group owns Wallen Blueberry Fruits, China’s largest blueberry producer, which cultivated 1,000 hectares of the country’s total 10,000 ha devoted to blueberry production (as of 2012)
  • Founded in 1998 and headquartered in Shenzhen, Guangdong Province, Golden Wing Mau Agricultural Produce Corporation is a major Chinese fruit trader whose product line includes peaches, apples, pears, navel oranges, mandarins, grapes, lychee, longan, melons, watermelon, papaya, and pomelos.

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