That was a tough one but I suppose they are aligning their business models and there was no room for Sheep production. They are very focused on forage seeds, services and irrigation. I like the PGW acquisition and I like the conservative nature of PGW. I like the possibility of more synergy between PGW and China, not to mention Australia and South America. This is a very long term bet for me, more long term than I hoped for :-)
I was getting excited when gro hit +1.80. Then pffffft back to the drawing board.
At least it's above $1, they do seem committed to keeping it listed.
I like PGG Wrightson and I like Agria's governance, I like that Agria doesn't hype.
I like they deleted 90% of their Goodwill and Intangible assets from their books.
When their numbers come out I hope to see more debt being paid down.
I believe the NZ Government had to approve Agria's M&A with PGW.
PGW is a very conservative NZ agricultural company - probably wouldn't allow themselves to
be bought by a Shady Chinese company.
Still holding and watching the paint dry.