Offer for Coal, Energy withdrawn
H. and H. and Associates partners, Messrs P. A. Hyde-Harris and K. C. Hunt, have withdrawn their offer for Coal and Energy New Zealand, Ltd (in receivership). The partners said in a statement to the Stock Exchange yesterday that they had held discussions with the parties involved in the restructuring of Coal and Energy. “Based on the information supplied to us, we have every reason to believe that, should their proposals succeed, Coal
and Energy will have an exciting future. “We were also involved in the preliminary discussions regarding the restructuring of Bridgevale, and likewise believe that the restructuring proposals are sound and will give the company new life. “Accordingly we consider that our objectives have been fulfilled and therefore we withdraw our offer for Coal and Energy,” the statement said.
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Press, 23 July 1986, Page 38
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136Offer for Coal, Energy withdrawn Press, 23 July 1986, Page 38
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