Nisa shareholders to get 60 per cent stake
The board of Nisa-Today's has approved a revised proposal for the merger with Costcutter.

Directors of the wholesale and symbol group met yesterday and voted to back a deal that will result in Nisa's 900-plus shareholders receiving a 60 per cent stake in the merged business.

A roadshow to sell the deal to Nisa members is expected to begin next month.

Plans for the merger were first revealed in May this year. The original proposal was for shareholders to take a 42 per cent share, management 40 per cent and the remaining 18 per cent to be taken by Icelandic investment bank Kaupthing.