AUST. UNITED CORP
£3m Take-Over Deal
(N ,Z.P.A.-Reuter—Copyright) MELBOURNE, Feb. 20.
Australian United Corporation, Ltd., finance and development organisation, will take over Anglo-Australian Corporation Pty., Ltd., in a deal worth £3.739,421 based on current market values. Details of the move were revealed in a joint statement.
A.U.C. will issue 1,133,158 10s ordinary shares ip the deal. 35 Per Cent. Interest
The deal will give British and American merchaiit banking concerns, the main shareholders in Anglo-Australian, a 35 per cent, interest in A.U.C. The overseas interests are: Lazard Brothers and Company, Ltd., and Morgan Grenfell gnd Company, Ltd., of London, and Lazard Freres and Company and Morgan Guaranty International Finance Corp., of New York.
A.U.C. was associated with the British and American interests previously through the overseas bankers holding shares in several A.U.C. subsidiaries. Australian United Investment and the Bank of New South Wales also are large holders.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19630221.2.171
Bibliographic details
Press, Volume CII, Issue 30062, 21 February 1963, Page 19
Word Count
147AUST. UNITED CORP Press, Volume CII, Issue 30062, 21 February 1963, Page 19
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.