TAKEOVER BY BANK
Control Of Aust. Warehouse (N.Z. Press Assn.—Copyright) SYDNEY, Jan. 6. Control of Paterson, Laing and Bruce, Ltd., softgoods warehouse, has been acquired by Ralli Brothers (Securities) Ltd., a London merchant bank. Ralli Brothers is a member of a group of companies associated with Sir Isaac Wolfson, of Great Universal Stores, Ltd., London. A half-interest in Ralli Brothers is owned by Drage’s, Ltd., an investment holding company. Drage's is controlled by the Wolfson Foundation. Major Interest Ralli Brothers has informed Paterson, Laing and Bruce that it now owns 56 per cent of the £175,000 ordinary capital, and more than 37 per cent of the £142,500 15 per cent preferred ordinary capital. Together this gives Ralli voting control. It now proposes to make cash offers totalling £260,000 for the remaining capital, and has offered 19s for each 10s ordinary share and 25s for the £1 preferred ordinaries. The Paterson directors intend to recommend acceptance of the offer.
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Bibliographic details
Press, Volume CV, Issue 30952, 7 January 1966, Page 11
Word Count
158TAKEOVER BY BANK Press, Volume CV, Issue 30952, 7 January 1966, Page 11
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Acknowledgements
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