Ariadne controls Sanctuary Cove
NZPA-AAP Brisbane Ariadne Australia said it has acquired Queensland businessman Mike Gore’s interest in Discovery Day Developments Pty, Ltd, giving it 100 per cent control of the Sanctuary Cove resort, south of Brisbane.
In a statement, Ariadne ■chief executive officer. [Mr Eugene Cafiero, said the settlement was finalised yesterday, but the settlement details will not be Ariadne acquired 50 per cent equity in Gore’s 449 hectare Sanctuary
Cove project in December 1986, and became entitled to 70 per cent of the profits. The buy-out: comes four months after! the sharemarket crash decimated Ariadne’s cash flow and forced the company to sell its major! asset.
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Press, 9 March 1988, Page 43
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108Ariadne controls Sanctuary Cove Press, 9 March 1988, Page 43
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