Euro-National to announce Aust, deal
PA Auckland Euro-National Corp, Ltd, expects to announce a new Australian acquisition soon, the chairman, Mr D. M. Young, told the annual meeting in Auckland yesterday. He declined to elaborate. Euro-National, he said, intended to follow a strategy of controlled expansion in both New Zealand and overseas by investing S3OM to S4OM in carefully selected businesses over the next year. An executive director, Mr Richard Sealy, said Euro-National was at a sensitive stage in its bids to acquire control of New Zealand Oil and Gas, Ltd, and United Resources Investment Holdings, Ltd. He said a statement would be made later this week.
The managing director, Mr Rod Petricevic, said Euro-National would develop as a truly International organisation. He said the company would never see as many opportunities again. Targets for international development were Australia, Asia, and Europe. The annual meeting, to have been in in the Regent Hotel, was held in the Hyatt Kingsgate because of the week-end crane accident at the Regent Hotel.
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Press, 23 July 1986, Page 37
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169Euro-National to announce Aust, deal Press, 23 July 1986, Page 37
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