SPMF buys Chase-NBA
PA Wellington South Pacific Finance. Ltd, has acquired all the shares in Chase-NBA New Zealand Group, Ltd, from Chase-NBA Group, Ltd, and the National Insurance Company of New Zealand, Ltd, the South Pacific Chairman, Sir Alan Low, said in a statement yesterday. The acquisition also incorporates a change in the shareholding structure of South Pacific Merchant Finance, Ltd. The National Bank of New Zealand,. Ltd. will continue to hold its present investment of 70 per cent and the National Insurance Company of New Zealand, Ltd, previously a shareholder in Chase, will replace New Zealand South British Ltd, as the 30 per cent
shareholder in South Pacific Merchant Finance, Ltd. In conjunction with the change of shareholding, the company will have an increase of capital, raising the level of shareholders’ funds to $8,500,000, Sir Alan said. He said all arrangements between Chase-NBA New Zealand Group and their clients would continue and would be fully honoured by South Pacific Merchant Finance, Ltd. Initially, the two companies will continue to operate as separate entities but, as soon as practicable, they will beccome a' merged group. The chief executive of the merged group will be the present general manager of South Pacific Merchant Finance, Ltd, Mr John A. Anderson.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19821210.2.83.7
Bibliographic details
Press, 10 December 1982, Page 14
Word Count
208SPMF buys Chase-NBA Press, 10 December 1982, Page 14
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