Chase in control
NZPA Wellington Chase Corporation will take control of Chasia Property and Investment, its 75 per-cent-owned Hong Kong subsidiary, after approval from the Hong Kong Supreme Court. Chase announced its cash offer of HK9Oc for each Chasia share and HK2Bc for each Chasia warrant on December 16. I Chase expects to mail out cheques to accepting shareholders on March 16. After
this date Chasia will (become a wholly-owned Chase subsidiary. 11 The Hong Kong Supreme Court’s .clearance for the Chasia purchase was a further step| in Chase’s;strategy of either taking full control or selling out of its investments, said Chase’s chief executive, Mr Richiird Adams; yesterday. J | ,1 Once the takeover is complete, Ctjase expects to continue its j operations and office in Hong Kong but on a slightly smaller scale.
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Press, 4 March 1988, Page 12
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133Chase in control Press, 4 March 1988, Page 12
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