I.E.L. sells shares in Courtaulds
NZPA Sydney Industrial Equity. Ltd. this week surprised the board of Courtaulds Hilton. Ltd. with the announcement that it had just sold its "entire holding" in the Victorian-based textile manufacturer for sAustl.94 million. Industrial Equity directors said the company had now ceased "to' be a substantial shareholder" in Courtaulds.
but no further details were given. The company's secretary (Mr R. W. Cremen) said the sale price for the 1.76 million shares was 110 each. Courtaulds shares traded at 65 in Sydney this week. Since July last year. Industrial Equity had built up its stake in Courtaulds to the point where it owned over 12 per cent, or 1.76 million shares bv late February. 1982. The chairman of Courtaulds (Mr Benjamin Cant) said he first heard of the sale on Tuesday morning and had no idea who had bought the shares. Courtaulds' secretary (Mr B. E. Lepage) said the 'industrial Equity stake was regarded merely as an "investment.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19820320.2.97.26
Bibliographic details
Press, 20 March 1982, Page 21
Word Count
162I.E.L. sells shares in Courtaulds Press, 20 March 1982, Page 21
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in