September 29, 2016 / 11:42 AM / 10 months ago

BRIEF-Ausnutria updates on transaction in relation to establishment of business in New Zealand

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Sept 29 (Reuters) - Ausnutria-discloseable Transaction In Relation To Establishment Of Business In New Zealand

* Pursuant to subscription agreements, Ausnutria China shall subscribe for 4,500,000 shares of joint venture in amount of NZD4.5 million

* Westland, through WMPI, shall subscribe for 3 million shares of joint venture in amount of NZD3.0 million

* Group, in respect of the agreements, shall invest up to NZD36.5 million to business in new zealand

* JV entered into shareholder loan agreement, retail product purchase agreement with ausnutria china and product supply agreement with westland


* Ausnutria China and Westland entered into subscription agreements with joint venture

* Deal for purpose of establishing business in New Zealand

* JV will be owned as to 60% and 40% by ausnutria china and wmpi respectively JV will be accounted for as a subsidiary of group Source text for Eikon: Further company coverage:

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