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Alliance Group shareholders debate selling 65% to Dawn Meats to avoid insolvency.
Alliance Group shareholders in Oamaru and Mosgiel debated a proposed sale of 65% to Irish firm Dawn Meats Group amid deep divisions.
Chairman Mark Wynne defended the $250 million deal as essential for meeting an $188 million debt deadline, citing failed attempts to secure alternative funding.
A competing plan by Southland farmers calls for full retention through recapitalization, requiring immediate cash contributions and asset sales, but Wynne labeled it unrealistic.
An independent report supports the Dawn Meats deal, warning rejection could lead to insolvency.
The final vote is pending.
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Los accionistas de Alliance Group debaten vender el 65% a Dawn Meats para evitar la insolvencia.