The OIO has approved the acquisition of 80% of the shares in Biotelliga Holdings Limited, together with any additional shares issued upon exercise and settlement of all outstanding stock options and restricted stock units (being all of the shares not currently held by the Applicant), with value of assets exceeding $100 million.

The Applicant is ultimately owned by Corteva, Inc., a company from the United States that operates globally and is focused on supporting farming and crop production. It already holds a 20% interest in Biotelliga and is now acquiring the remaining 80% of the issued shares (together with any additional shares issued upon exercise and settlement of all outstanding stock options and restricted stock units).

Biotelliga is an agricultural biotechnology company focused on developing safe and sustainable solutions for managing crop pests and diseases. The Applicant intends to continue operating this business in New Zealand.

https://www.biotelliga.com/

Source: https://www.linz.govt.nz/