Alliance Group shareholders approve Dawn Meats deal

Farmer-shareholders of Alliance Group have approved a deal that will see Irish processor Dawn Meats take a majority stake in the New Zealand co-op. Dawn Meats will pay NZ$270m ($154.4m) in return for a 65% stake in the business. Alliance Group's farmer-members will retain a 35% shareholding. A total of 2,675 shareholders voted, representing more than 88% of the company’s issued shares. Over 87% of the votes were in favour of the proposal. In August, Dawn Meats said it was seeking to take a 65% stake in ...