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CR Capital Mulls Take-Private of Manuka Honey Maker Comvita

  • New Zealand-listed Comvita is known for Manuka honey products
  • CR intends to relist Comvita at another location later
Updated on

CR Capital Management is weighing a bid to take New Zealand-listed honey maker Comvita Ltd. private, according to people familiar with the matter.

The investment arm of China Resources Holdings Co. has held initial talks with banks for financing its potential offer, said the people, who asked not to be identified as the information is private. Shares of Comvita jumped as much as 7.2% in their biggest intraday gain since August after the Bloomberg News report, giving it a market value of around $150 million. CR Capital has about 6.6% shares in the Te Puke-based company, according to data compiled by Bloomberg.