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Article: InchRoy to become 50-50 joint-venture between Inchcape Pacific and Security Pacific. (InchRoy Credit Corporation Ltd., Security Pacific Financial Services System Inc.)
- Article from:
- PR Newswire
- Article date:
- June 1, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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INCHROY TO BECOME 50/50 JOINT-VENTURE BETWEEN
INCHCAPE PACIFIC AND SECURITY PACIFIC
HONG KONG, June 1 /PRNewswire/ -- Inchcape Pacific Limited and Security Pacific Financial Services System, Inc. announce that they are acquiring the 70 percent interest held by The Royal Bank of Canada in InchRoy Credit Corporation Limited, one of Hong Kong's leading consumer finance companies.
Inchcape Pacific currently owns 30 percent of InchRoy and will acquire a further 20 percent from The Royal Bank of Canada to become a 50 percent shareholder. Security Pacific will acquire the other 50 percent. The new joint-venture arrangement, which ...