Hauraki sells stake to BIL
PA Wellington Hauraki Enterprises has sold its 30 per cent investment in Capital City Radio, Ltd, to Brierley Investments, Ltd. Hauraki, operator of Auckland-based Radio Hauraki, said in a statement to the Stock Exchange that the sale of 441,250 Capital City Radio shares was at 150 c each. The transaction netted Hauraki a capital profit of
$525,000 and a book profit, after previous year’s shares of post acquisition profits, of $400,000. The sale was required by the Broadcasting Tribunal so Hauraki Enterprises could register Radio Otago, Ltd, as a major shareholder. Hauraki is 59 per cent controlled by BIL, which now owns about 46 per cent of Capital City
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Press, 8 October 1986, Page 33
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114Hauraki sells stake to BIL Press, 8 October 1986, Page 33
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