|
|
Article: LION NATHAN TO BID FOR NEW ZEALAND'S MONTANA GROUP.
- Article from:
- AsiaPulse News
- Article date:
- July 2, 2001
CopyrightCOPYRIGHT 2001 Asia Pulse Pty Ltd. 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)
|
WELLINGTON, July 2 Asia Pulse - Australasian brewer Lion Nathan is making a full bid for New Zealand's largest winemaker, Montana Group, starting with a partial offer for 11 per cent.
Lion said in a statement today that the initial offer would be priced at $5.50 per share, resulting in ownership of 50 per cent of Montana shares if successful.
Lion would then make a bid for the remaining shares at $3.70 per share.
Last week Lion, which holds 62 per cent of Montana, was forced to sell 19 per cent of its shares which were declared defaulter securities.
As a result, Lion's holding will be reduced to 43.8 per cent prior to its initial ...