Mitsubishi in BHP
NZPA-AAP Melbourne The Japanese conglomerate, Mitsubishi Corporation, has taken up a stake in BHP Co.
BHP said Beswick Pty, the holding company for 23 per cent of BHP jointly owned by BHP and Elders IXL, had an agreement to sell 8.3 million BHP shares to Mitsubishi. Beswick elected to receive shares in lieu of BHP’s final dividend announced on
March 31. The shares it received as a result were sold to Mitsubishi in a deal which cements their existing relationship as partners in the
North West shelf project. BHP’s dividend of 18c a share was split into two equal payments of 9c each, which means Mitsubishi so far owns only half the parcel. The second instalment of the dividend is due to be paid on July 5.
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Bibliographic details
Press, 2 June 1989, Page 15
Word Count
130Mitsubishi in BHP Press, 2 June 1989, Page 15
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