New Zealand-based natural products and fragrance producer Trilogy International Ltd. on Jan. 31 said that, as part of CITIC Capital China Partners III LP's proposed acquisition of the company, its board agreed to buy and cancel Trilogy shares held by Sociedad Agricola Y Forestal Casino SpA.
CITIC on Dec. 15, 2017, signed a scheme implementation agreement for its wholly owned subsidiary to acquire all of Trilogy's outstanding shares for NZ$2.90 apiece, for a total purchase price of NZ$250 million. In the recent update to the scheme, Trilogy said its board seeks to accelerate the vesting date for 530,000 of the 720,000 unlisted options on issue to allow the company to exercise the shares before the scheme record date. Trilogy noted that 52,500 unlisted options have lapsed since the company posted its most recent annual report.
Trilogy said it has agreed with CITIC to acquire and cancel 2,615,181 Trilogy shares held by the 75% majority shareholder in rosehip oil producer Forestal Casino prior to the implementation of the scheme. The company will also sell its 25% stake in Forestal Casino under the agreement, but the two agreed on several amendments in a bid to strengthen their rosehip oil supply agreement.
In addition, Trilogy and Forestal Casino agreed to implement the changes by March 30.
