Overview

• Florenz is a subsidiary of billionaire Mark Stewart’s Masthead Limited and has offered NZ$0.8 per share to acquire Comvita.
• The proposal places Comvita’s equity value at around NZ$56 million and its enterprise value at roughly NZ$119 million.
• Comvita chair Bridget Coates cited sustained sector pressures, including oversupply and intense competition, as reasons for backing the deal.
• The board and Comvita’s two largest investors, China Resources Enterprise and Li Wang, have all endorsed the takeover.
• Final approval hinges on shareholder votes and regulatory clearances, with formal deadlines and conditions still to be confirmed.