Aurora launches U.K. bid
Aurora Group, the Auckland-based property investor, has launched a friendly £lOO million (SNZ264M) bid for Hampton Trust, pic, the British property investment group.
The 120 p a share offer was made by Aurora’s managing director, Mr Bruce Holdsworth, in London last evening, N.Z. time, and it has been recommended by the Hampton board. The directors said that they would be accepting the offer, and that their holdings amounted to 41 per cent of the capital.
Mr Holdsworth said Aurora planned to retain 60 per cent of Hampton’s capital, and additional shares would be placed by ANZ Merchant Bank, on behalf of Aurora.
Equiticorp Holdings, which raised its stake in Aurora to 78 per cent on Thursday, would partially underwrite the placement.
Aurora has been looking to expand beyond New Zealand for some time, and earlier this year, Mr Holdsworth said the company was looking at Britain.
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Press, 12 September 1987, Page 31
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150Aurora launches U.K. bid Press, 12 September 1987, Page 31
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