D.F.C. silent on bid
PA Wellington The investment bank D.F.C. New Zealand, Ltd plans to keep the size of its bid for Air New Zealand private at least until the Commerce Commission decides whether to approve the sale to a Qantas-Brierley consortium. The Government this month sold the airline to a Brierley-Qantas consortium for $660 million, saying the successful bidder was selected on price. D.F.C., which bid for the airline as part of a consortium with British Airways and the Japanese tourism investment company, EIE, has been deciding whether to go public with its price. The executive director, Mr Keith Sutton, said yesterday that D.F.C. would wait while the Commerce Commission clearance was in progress. He indicated that the company might reveal the bid after the commission’s decision. Last week Air New Zealand’s chief executive, Mr Jim Scott, said the $660 million price for the airline was disappointing. The sale is unlikely to receive commission clearance before the end of January
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Press, 29 December 1988, Page 8
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161D.F.C. silent on bid Press, 29 December 1988, Page 8
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