K.P. DRUG SELLS N.I. WORKS FOR $1.7m
Kempthome Prosser and Company’s N.Z. Drug Company, Ltd, Dunedin, has sold its interests in two Auckland and Northland fertiliser works to New Zealand Farmers’ Fertilizer Company, Ltd, in a deal worth about $1,738,000.
■K.P. Drug will transfer its Westfield chemical fertiliser works to N.Z. Farmers’ Fertilizer and the one-third interest in the Northland Fertiliser Company, Ltd, N.Z. Farmers' Fertilizer already holds the other two-thirds interest in Northland Fertiliser. Payment Payment will be 458,817 N.Z. Farmers’ Fertilizer $2 shares, with a market value of about $1,237,000, and $500,500 in cash, at the end of this month. Northland Fertiliser re-
cently erected a fertiliser works at Whangarei. Other Holdings
K.P. Drug also has a substantial shareholding in Dominion Fertiliser Company, Ltd, Dunedin. Dominion Fertiliser issued 453,986 $1 shares to K.P. Drug for the Burnside fertiliser works, after resisting takeover bids from both K.P. Drug and Wright Stephenson and Company, Ltd.
N.Z. Fanners’ Fertilizer has an issued ordinary capital of $4,781,848.
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Bibliographic details
Press, Volume CVII, Issue 31499, 13 October 1967, Page 19
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165K.P. DRUG SELLS N.I. WORKS FOR $1.7m Press, Volume CVII, Issue 31499, 13 October 1967, Page 19
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