Delay in sale of N.Z. Steel
PA Wellington Settlement of the Equiticorp ' International Pic (in receivership) 80 per cent stake in New Zealand Steel may be some time away.
“A careful evaluation of the terms and conditions of several proposals is being carried out at present. This may take some time,” Equiticorp’s statutory manager, Mr Fred Watson, said yesterday.
No further statement would be made until an agreement was concluded, Mr Watson said. The main bidders for the stake are Elders Resources NZFP, Fletcher Challenge, BHP and the Chinese Governmentowned, Minmetals.
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Press, 12 April 1989, Page 37
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91Delay in sale of N.Z. Steel Press, 12 April 1989, Page 37
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