Seeka Limited (NZSE:SEK) agreed to acquire 0.21% stake in Zespri Group Limited from T&G Global Limited (NZSE:TGG) on April 20, 2018. Seeka Limited will acquire 0.25 million shares of Zespri Group Limited and the purchase price will be set by way of formula. In a related transaction, Seeka Limited agreed to acquire Kerikeri-based Kiwifruit orchards, packhouse facilities and assets of T&G Horticulture for approximately NZD 40.2 million.

Seeka Limited will pay the consideration in cash with banking support in place. The transaction is subject to Overseas Investment Office approval, if required. The transaction is expected to be completed on April 30, 2018.

The transaction is expected to be earnings accretive to Seeka Limited.