CSR stakes up
NZPA-AAP t Sydney CSR, . Ltdi, has announced it -has increased its stake in Gove Aluminium, Ltd, and Gove Aluminium Finance, Ltd, to 70 per cent from 58.88 per cent At t&ie same time, the AMP Society has lifted its stake in both companies to 30 per cent from 24.43 per' cent The purchase prices were not disclosed. CSR and AMP bought < out the 11.64 per cent i stake in both companies 1 held by MLC Life, Ltd, !
and 5.05 per cent held by : Westpac Banking Corp. CSR also exercised convertible notes to increase its holding in Gove Alum- « inium Finance. Gove Aluminium, Ltd, owns 30 per cent of the Gove bauxite and alumina project in the Northern Territory with the other 70 per cent owned by the Swiss group, Alusuisse. Gove. Aluminium Finance, Ltd, owns 35 per cent of the Tomago aluminium smelter in the Hunter Valley of New South Wales.
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Press, 21 February 1987, Page 26
Word Count
154CSR stakes up Press, 21 February 1987, Page 26
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