Ansett buys interest in A.S.L.

Press, 7 December 1976, Page 30

Ansett buys interest in A.S.L.

NZPA Melbourne Ansett Transport Industries Ltd, has bought a 30 per cent interest in Associated Securities, Ltd, an Australian finance company. It is believed that Ansett paid 33c a share for the shares, which values the parcel at $Au5t4,952,574. The shares were bought by Ansett from the Royal Bank of Scotland. Ltd. which has been the largest shareholder of A.S.L. for many years. A.S.L. directors were queried recently bv Australian exchanges on why the price of the shares had fallen to an all time low of 27c. Thev said they know of no reason for the fall, but the market was worried about the company’s property-financing loans. Ansett’s recent take-over

I moves have been the purchase of a 50 per cent interest in Biro Bic from Gollin and Co., and a small company, Pyrometric Service and Supplies Pty. Ltd. which specialises in instrument manufacture. Ansett was also said to 'have been interested in taking a stake in the $60051 Nebo coal project in Queensland. Meanwhile the Melbourne Stock Exchange has agreed not to force Ansett to make an outright take-over bid fol Associated Securities. The. chairman of the Exchange (Mr J. C. JohnstQtil

said that the acquisition bj Ansett of the A.S.L. holdific belonging to the Royal Banii of Scotland was in the Interests of the remain!)' A.S.L. shareholders.