Bancorp purchase
The three founding directors of Bancorp Holdings, the Auckland-based financial services group, have bought the 10 million Bancorp share stake held by Chase Corporation for SBM. This 25 per cent holding raises Messrs John Wells, Paul Norling, and Harry White’s stake in Bancorp to 81% when the shares of executive directors and staff are included. They have permission to take up to 100% of Bancorp, but 25% is intended to go to an overseas institution. Settlement was on a deferred basis.
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Press, 22 July 1989, Page 27
Word Count
83Bancorp purchase Press, 22 July 1989, Page 27
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