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Itoham Yonekyu to Take Over New Zealand's Greenlea Group in NZ$800 Million Deal

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Japanese processed meat manufacturer Itoham Yonekyu Holdings (TYO:2296) plans to fully acquire New Zealand's Greenlea Group in a deal worth NZ$800 million.

Established in September 1982, Greenlea is a meat processing, manufacturing, and sales company engaged in the same business as Itoham Yonekyu's consolidated subsidiary ANZCO Foods, according to a Thursday's filing on the Tokyo Stock Exchange.

The purchase price is based on Greenlea Group's enterprise value, with the final equity value to be decided after adjusting for working capital and net debt on the completion date, probably at the end of August. The exchange rate applied is 95 yen per NZ$1, the filing said

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