NZMB offer
Coachwork International, Ltd, has received acceptances for 75 per cent of the capital of New Zealand Motor Bodies, Ltd, (NZMB) Coachwork announced yesterday in a statement. The acceptances include the shares held by TNL Group, Ltd, of Nelson, and Moller Holdings, Ltd, of New Plymouth, in NZMB. The 1982 annual report of NZMB shows that Moller has a 32.6 per cent interest, and TNL Group a 22.4 per cent interest in NZMB.
Coachwork is equally owned by Moller Holdings, TNL Group, and EMCO Group, Ltd, and the bid is seen by it as the first step to rationalise the over-capa-.city of the coach-building industry in New Zealand by merging NZMB with Hawke Coachwork, Ltd, a subsidiary of EMCO. The offer is 100 c cash for each 100 c ordinary share of NZMB, and the offer closes on October 3.
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Press, 22 September 1983, Page 24
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141NZMB offer Press, 22 September 1983, Page 24
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