Snapshot on local business, week to 18 March 2001

Latest: Takeovers panel seeks comment on exemptions, Air NZ traffic up, court approves Fletcher separation, warning on overseas share deals. 18 March 2001 The Takeovers Panel issued a request on Friday for public comment by 9 April on draft class exemptions from the fundamental rule of the takeovers code, which comes into force on 1 […]

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Snapshot on local business, week to 4 March 2001

Latest: Dunphy bids for Fletcher Energy and Stiassny takes over Kaingaroa ahead of Fletcher results and splits, city rail commitment. 27 February 2001 Life got more complicated at Fletcher Challenge today when Greymouth Petroleum (Mark Dunphy, ex-Cultus Petroleum chief executive, Fay Richwhite) offered $3.70/share for Fletcher Energy, one week out from the Fletcher separation meeting. […]

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Snapshot on local business, week to 28 January 2001

Latest: Infratil target bought 30% above book value as income falls, Carter Holt earnings up but outlook gloomy. 28 January 2001 Infratil NZ’s purchase, through a consortium, of Glasgow Prestwick International Airport from Stagecoach Group for a total £33.4 million ($NZ112 million) sounds promising — if the New Zealand-listed infrastructure investor can explain what it […]

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Snapshot on local business, week to 24 November 2002

21 November 2002 Infrastructure Auckland agreed yesterday to pay the full $16.6 million grant sought by Auckland Regional Transport Network Ltd (ARTNL) to upgrade rail amenities throughout the region, and said it would make 10% of the grant available immediately so rapid progress can be made. ARTNL actually wants $35.4 million, but was turned down […]

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Snapshot on local business, week to 17 November 2002

17 November 2002 Tower Ltd has taken Tower Trust off the market, deciding that incorporating it in its growth strategies “would be the best use of shareholder capital.” Several parties had completed due diligence & submitted bids for the business. Tower Ltd is also reviewing strategic & operational initiatives and intends announcing outcome early in […]

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Snapshot on local business, week to 20 October 2002

19 October 2002 Australia Insurance Group (IAG)’s $A1.855 billion purchase of CGU in Australia and NZI in New Zealand from Aviva plc (just after Aviva had finished changing all the NZI branding) is now down to the financing arrangements: $A500 million of institutional placement at $A2.55/share, a share purchase plan this year for $A380 million […]

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Snapshot on local business, week to 6 October 2002

6 October 2002 Auckland is 1 of 3 New Zealand ports (Napier & Port Chalmers are the others) which will get the regular scheduled business of new-generation 4100-TEU (20ft-equivalent unit) containerships, and Auckland will be the only New Zealand port of call for 2200-TEU ships. The new services will start in December, the result of […]

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