Bapcor closes in on control of Hellaby

Wed, 28 Dec 2016

By Sophie Boot Dec. 29 (BusinessDesk) - ASX-listed auto-parts company Bapcor is creeping closer to control of Hellaby Holdings, building a 47.5 percent stake according to its latest disclosure this morning. Bapcor had 46 percent of Hellaby as of its previous disclosure on Dec. 21. Under its takeover offer made in October, it wants to buy up to 90 percent of Hellaby at $3.60 per share, a threshold which would let it enforce mop-up provisions to take the company private. Last week, Bapcor said it may waive the 90 percent condition, makin...

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