Published: 1:35PM Thursday November 05, 2009
Source: NZPA
Source: ONE NewsNZ $100 notes
CER Group Ltd has agreed to sell its New Zealand Nature Company Ltd business for $3 million.
Interests associated with CER managing director David Warrick, who has resigned as a director and employee, have made the purchase.
A possible sale was signalled at the company's annual meeting.
Consideration will be $2 million in cash on settlement and a deferred payment of $1 million within two years.
Should the conditions be satisfied it is anticipated that the transaction will complete in January 2010.
Sean Joyce will become a non-executive director, effective immediately. Joyce is a partner in the commercial law firm Jones Young in Auckland.
CER Group focuses on acquiring and developing sustainable
businesses.
Provocative, unflinching, Thursday 9:30pm
Back Benches - giving politics back to the people
The way New Zealand wakes up weekdays, 6:30am
No one gets you closer, weeknights 7pm
Looking out for the little guy, Wednesday 7:30pm
Meet the people that bring you the news
TV ONE weekdays, 6am
The home of NZ politics - Sunday, 9am TV ONE
Where there's a story, we'll find it, Sunday 7:30pm
Te Karere, Maori News - 4pm weekdays, TV ONE
News on digital channel TVNZ 7
Advertising
