Wednesday 12th August 2015 |
Text too small? |
Just Water International, the water cooler and supplies business 79 percent owned by founder Tony Falkenstein, will shift its bottling plant and head office to a new site in Auckland that it has bought for $3.3 million.
The Auckland based company entered into a binding agreement with an undisclosed seller to buy 103 Hugo Drive in Penrose, it said in a statement. It will shift its bottling facilities and headquarters to the site over the next nine months.
In April, Just Water got the green light for the sale of its Australian business, Waterlogic Australia, for A$11 million, a transaction that will leave it debt-free.
Falkenstein's investment vehicle Harvard Group made a full takeover bid for Just Water last October at 15 cents a share, trumping an indicative offer of 14.6 cents from an unidentified overseas buyer. He fell short of the target to take the company private, acquiring about 8 percent of the shares he didn't already own.
The shares last traded at 14 cents on the NZAX, valuing the company at about $12.6 million.
BusinessDesk.co.nz
No comments yet
NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024