EqiTas ‘not in rush’ on BHP
PA Wellington Equiticorp Tasman is in no rush to sell its holding in BHP, says ET chairman, Mr Allan Hawkins, despite its weekly SAustl million interest bill on funds borrowed to buy the 4.4 per cent stake. “If the implication is we are bleeding on it — we are not,” he said in Auckland yesterday. "We can stay with it as long as we want to. There is no pressure to do something today or tomorrow — we are well battened down on it”
ET bought the bulk of its (HP holding nine weeks ago
and spent about sAust4so million in total. Most of the shares were bought at AustBsoc, compared with BHP’s price yesterday of about 836 c.
Some market analysts believe negotiations are going on for ET to dispose of the BHP holding, and there is some speculation that a deal had already been made. But Mr Hawkins yesterday declined to comment on whether ET had made any progress with its holding, and played down its negative effect on the company’s cash flow.
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Press, 24 July 1986, Page 28
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179EqiTas ‘not in rush’ on BHP Press, 24 July 1986, Page 28
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