Fund cleared on Primacq
PA Wellington The Commerce Commission has cleared the way for National Provident Fund to acquire DFC New Zealand’s shareholding in listed property and investment company, Primacq Holdings. Primacq, hit hard by last year’s sharemarket crash and its aftermath, made a $23.5 million loss for the year to July. Since balance date, DFC Financial Services has acquired 30 per cent of
Primacq and underwritten a SI2SM finance package for the development of Primacq’s Majestic Tower project in Wellington. National Provident was given commission approval in August to acquire 100 per cent of DFC New Zealand. The commission this week also cleared National Provident to acquire DFC’s 7.05 million shares in Hawke’s Bay listed deer, horticulture and transport company, Eastern Equities Corp.
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Bibliographic details
Press, 9 December 1988, Page 21
Word Count
124Fund cleared on Primacq Press, 9 December 1988, Page 21
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