Holdcorp purchase
PA Wellington Holdcorp Group has bought an 80 per cent stake in Stavic Furniture through the issue of 200,000 Holdcarp shares at 55.575 c a share and the payment of an undisclosed cash amount
Stavic is a Takapuna-based manufacturer and distributor of commercial furniture.
Slavic’s products and operations were highly complementary to other Holdcorp acquisitions in the commercial office interiors market Holdcorp’s chairman, Mr Robert Fenwick, said.
Plans have begun to market Stavic products in coordination with those of Finewood Designer Furniture and Modulink Systems. Slavic’s owner since 1979, Mr Noel Whiley, will retain a 20 per cent shareholding in the company and continue as managing director. ~<
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Bibliographic details
Press, 16 September 1987, Page 36
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109Holdcorp purchase Press, 16 September 1987, Page 36
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