Agria takes PGW

Chinese agricultural companies have taken control of New Zealand rural services company PGG Wrightson. The bid vehicle Agria (Singapore) Pte yesterday disclosed it had a 50.52 per cent holding.

Agria (Singapore) is jointly owned, directly or indirectly, by Beijing-based Agria Corp and New Hope, which is one of China's largest agricultural and food corporations.

Agria said that PGG Wrightson's business required restructuring and a refocus on the core agricultural services and technology businesses to achieve its full potential.