Amev’s Victoria Holding 15 P.C.

Press, Volume CVIII, Issue 31775, 4 September 1968, Page 18

Amev’s Victoria Holding 15 P.C.

SYDNEY, September 3. Mr Van Herwerden, Australian representative of the Dutch insurance group Atnev, would not comment on his next move in the battle for control of the Victorian Insurance Company, Ltd, of Melbourne. x Mr Van Herwerden said Amev now owned a 15 per cent shareholding in Victoria Insurance. On Friday, Mr A. G. Wilson, chairman of the New Zealand Insurance Company, Ltd, which also is seeking control of the Victoria Insurance Company, said the New • Zealand company had control of adequate shares to prevent the control of Victoria Insurance passing to a third party. Mr Wilson said his company had purchased 25 per cent of the issued capital of Victoria Insurance and could keep control “together with other friendly minority interests.” Mr Wilson added: “We have had very close and mutually beneficial business relations with ‘Victoria’ board and management extending over many years, and neither company would wish to see these disturbed. “We believe that even closer co-operation between the two companies would be mutually advantageous.

“This is an area which requires detailed examination at management level, but the sharing of expensive computer facilities is an obvious example.”