Bapcor lifts interest in Hellaby to 78.4%, closing in on takeover that will herald breakup

Thu, 19 Jan 2017

By Jonathan Underhill Jan. 20 (BusinessDesk) - Bapcor, the ASX-listed autoparts firm, lifted its interest in Hellaby Holdings to 78.4 percent from 71.4 percent, edging closer to a takeover of the diversified investor it wants to break up while retaining its automotive business. Bapcor has said it plans to sell Hellaby's equipment, resources and footwear businesses, using the remaining automotive division as a foothold in the New Zealand market, where car sales have been hitting record levels over the last three years due to a rapid increa...

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