Hearing on Winstone
PA Wellington Brierley Investments, Fletcher Challenge and the Commerce Commission will appear in the High Court in Wellington today to settle the sale of Winstone to Golden Bay Cement. The Commission sought the injuction to stop Brierley selling Winstone to Golden Bay shortly after the deal was announced in March.
The $444 million deal involved the sale of Winstone as a Brierley subsidiary to Golden Bay, which is equally owned by Brierley and Fletcher Challenge. The Commission alleged the sale was a merger or takeover and therefore should require consent. Brierley and Fletcher Challenge, however, contended the sale was from one subsidiary to another. The issue is complicated by Fletcher Challenge having an option to take full control of Golden Bay in three years, which would mean Fletcher could get all of Winstone without Commission approval.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19880811.2.122.10
Bibliographic details
Press, 11 August 1988, Page 28
Word Count
139Hearing on Winstone Press, 11 August 1988, Page 28
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.