Egnal becomes merchant bank
Egnal Holdings, Ltd (previously Nova Corporation) 77 per cent owned by Invesco Group, Ltd, has announced plans of its future direction after the sale of its manufacturing operations. The company is to become involved in financial services offering traditional investment and merchant banking products to both private and public companies. It will also provide investment advice to high networth individuals. The company intends to be involved with debt and equity finance, financial restructuring, taxation planning,
and general areas of corporate finance. The company will initially be based in Auckland.
Egnal will also provide direct financial support to private companies, identified as having exceptional growth prospects by itself assuming an equity role.
As a direct result of the sale of the manufacturing operations and the new direction being pursued, Messrs B. White and B. King have resigned from the board. Mr J. Midgley, previously assistant regional manager, General Finance, has been appointed to the board.
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Press, 17 December 1986, Page 43
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158Egnal becomes merchant bank Press, 17 December 1986, Page 43
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