Meat processing at Alliance Group.
Photo: Alliance
Alliance Group is urging shareholders to vote to accept a $250 million investment, saying if they do not, the company risks insolvency due to the level of debt.
The red meat cooperative released more details on Thursday about the proposed investment by Irish-based Dawn Meat Groups ahead of a vote by farmers next month.
Dawn Meats Group proposes to buy a 65 percent stake for $250m. It is one of Europe’s largest meat processors with annual revenue of $5.8 billion.
Group chairman Mark Wynne encouraged farmers to read the new booklet that features financial, operational and governance information to help them make an informed decision on the proposal.
An independent advisory…