INSURANCE HOLDING
$6.4m Invested In Victoria (N Z. Press Association) AUCKLAND, Sept. 12. New Zealand Insurance Company, Ltd, has acquired ju,. short of 50 per cent of the $2.2m capital of Victoria Insurance Company, Ltd, Melbourne, the chairman (Mr A. G. Wilson) told the annual meeting. The average price paid was 580 c a share, making a total of almost $6,380,000. The buying of Victoria shares by New Zealand Insurance prevented a partial takeover by the Dutch Amev group. The Dutch holding has since been acquired by New Zealand Insurance. Mr Wilson said the purchase was being financed by sales spread over the existing investment portfolio.
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Press, Volume CVIII, Issue 31783, 13 September 1968, Page 20
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106INSURANCE HOLDING Press, Volume CVIII, Issue 31783, 13 September 1968, Page 20
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