‘Don’t sell’ lifted
PA Wellington I Petrocorp yesterday I lifted its “don’t ]sell”| notice and said i the I Fletcher Challenge i offer* to minority Petrocorp I shareholders will be an-1 nounced shortly. Petrocorp’s deputy! chairman, Mr Norman, Geary, said the FClilofferJ would be at the ! samel price as the Government’s! 75 per cent stake was
sold. As well as a cash offer of 175 c, Mr Geary understood Petrocorp shareholders would have the option of taking an equivalent value of marketable securities. “It is particularly pleasing 'that control and ownership of Petrocorp will be retained within New Zealand.” Mr Geary added.
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Press, 5 March 1988, Page 27
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102‘Don’t sell’ lifted Press, 5 March 1988, Page 27
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