Growers to bid for Aust. Estates
(Neto Zealand Press Association —Copyright) BRISBANE. A group of some 650 sugar cane growers in the Burdekin and Mackay regions of Queensland is prepared to offer a “very substantial” sum to take over the United Kingdom-based Australian Estates, Ltd.
Mr R. N. Chapman, secre-, tary of the growers negotiat-!i ing committee, said that the! group had already offered! $47 million for just three! 1 sugar mills owned by Australian Estates and located at Pleystowe, Kalamia, and; Invicta. ji This compares with a sim-i ilar previous offer by CSR,! Ltd, for all the interests held! by Australian Estates. !. The offer by CSR has ' been rejected by the board!
,of directors of Australian I Estates. ! A spokesman for the Brisibane Stock Exchange said 'that an announcement was 'expected soon from the London office of Australian Estates, explaining the reasons !for rejecting the CSR offer. i. Mr Chapman said this announcement might have I some bearing on the future |of the growers’ take-over bid. ! He emphasised that the i growers were very confident !of obtaining the necessary finance. He said what the growers were prepared to offer for Australian estates would' be “very substantial,” but no figures were given.
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Bibliographic details
Press, Volume CXV, Issue 33777, 25 February 1975, Page 14
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202Growers to bid for Aust. Estates Press, Volume CXV, Issue 33777, 25 February 1975, Page 14
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