Bremworth’s largest shareholder lines up $20m partial takeover
The largest shareholder of carpet-maker Bremworth, Mangawhai Collective, is initiating a partial takeover bid valued at approximately $20 million. The move follows the shareholder's public opposition to a previous attempt to sell the company to a rival.
Why it matters
This corporate maneuver signals a significant shift in control and strategy for the NZX-listed company, impacting its future ownership structure.
Bremworth's yarn-spinning plant in Napier. Photo / NZME
The largest shareholder of Bremworth is lining itself up for a partial takeover of the carpet-maker worth at least $20 million.
According to an NZX notice on Monday morning, David Ferrier’s Mangawhai Collective signed lock-up deeds with 13 shareholders over the weekend as it considered making a partial takeover that could result in it holding between 50% and 55% of the NZX-listed business.
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