Bapcor lifts Hellaby stake to 48.7% over New Year

Wed, 04 Jan 2017

By Sophie Boot Jan. 5 (BusinessDesk) - ASX-listed auto-parts company Bapcor has built a 48.7 percent stake in Hellaby Holdings, creeping closer to winning control of its NZX-listed target. Bapcor had previously held 47.5 percent of Hellaby on Dec. 28, 2016. 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 allow it to enforce mop-up provisions to take the company private. However, Bapcor has said it may waive the 90 percent target, making its offer conditio...

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