F and D goes back to PGG
Independent Newspapers, Ltd, is to sell back to Pyne Gould Guinness Corp, Ltd, Finance and Discounts, Ltd, the finance company PGG sold to the Christchurch Press Co., Ltd, in 1984. Finance and Discounts was a full subsidiary of the Christchurch Press when that company was taken over recently by INL. INL’s chairman, Mr Alan Burnet, said yesterday that Finance and Discounts* activities did not fit in with the printing and publishing operations of INL and tenders for its
sale had been sought PGG had been the highest bidder, Mr Burnet said. The sale of proceeds would help meet the cost of buying the Christchurch Press, he said. PGG’s chairman, Mr D. C. Gould, said he was pleased that Finance and Discounts was again under the control of his company as this would enable PGG to continue offering a comprehensive service to its clients. The deal is subject to the consent of the Commerce Commission.
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Bibliographic details
Press, 28 July 1987, Page 26
Word Count
161F and D goes back to PGG Press, 28 July 1987, Page 26
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