STINNES COMPANIES.

Auckland Star, Volume LVII, Issue 26, 1 February 1926, Page 7

STINNES COMPANIES.

NEGOTIATIONS FOR SALE. AUSTRALIAN SHIPPING AFFAIR BERLINV January 31. Negotiations for the sale of the entire Hugo Stinnes Deutsch-Australische Shipping Company and the Kosrnos Company resulted in a provisional agreement. The Stinnes fleet comprises 28 modern paseenger and freight oversea steamers. of a total tonnage of 140,355, and two motor ships, of 10,800 tons, now under construction. The Deutch-Australisehe and Kosmos Companies' capital amounts to 15,000,000 and 12,000,000 marks respectively. It is stated that the transaction will necessitate an increase in the capital of both companies.— (Pteuter.)

THE PURCHASE PRICE.

BRITISH FIRMS HOLDING. ißeceived 10.30 a.m.} BERLIN, January 31. A sum aggregating 27.000,000 marks has been agreed upon as the price to be paid for the Stinnes fleet. Of this sum 6,000,000 marks is payable in cash, and mortgages to the value of 21,000,000 marks, held by Dutch capitalists, will be taken over by the new owners. The-ves-sels will continue to sail under the Stinnes flag while the liquidation of the Stinnes property is progressing. The sale of the Koholyt company to a British firm, and the money to be derived from the sale of the Stinnes ships, will enable the family to continue their Mulheim coal business without outside help. (A. and N.Z. Cable.)