NZI offer withdrawn
PA Wellington NZI Corp, Ltd’s wholly owned subsidiary, the New Zealand Insurance Co.-, Ltd, was yesterday formally withdrawing its takeover offer for the National Insurance Company of New Zealand, Ltd. Control of National Pacific Corp., Ltd, which holds 90.8 per cent of the share capital of National Insurance, has recently been secured by the Government Life Insurance Corp. Letters to National shareholders were sent yesterday totally withdrawing all offers made by NZI under its takeover scheme and releasing offerees from all obligations.
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Press, 17 June 1988, Page 18
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85NZI offer withdrawn Press, 17 June 1988, Page 18
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