Chase Aust, plans to lift stake in Botena
NZPA-AAP Sydney Chase Corp Australia plans a bid to take its holding in its resources arm Botena Investments to 100 per cent. Chase said its subsidiary, Coljona, will offer Austl2oc (NZI3OC) a share for the 37.5 per cent of Botena it does not already own, and 10c for Botena options. The bid values Botena at sAust34.3s million (5NZ37.44M), and will cost Chase about sAustl3 million (SNZI4.I7M). Botena’s main interest is a 49.3 per cent holding in gold producer AUR NC, which operates mines at Mt Martin near Kalgoorlie and Mt Madden in North Queensland. AUR also holds 78 per cent of New Zealand’s largest gold . miner, L and M Mining, which operates on the West Coast of the South Island. The bid is subject to acceptances from 75 per cent of shareholders and the acquisition of 90 per cent of Botena’s shares.
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Press, 4 January 1988, Page 8
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150Chase Aust, plans to lift stake in Botena Press, 4 January 1988, Page 8
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