Bapcor offer 'compelling', Hellaby overstating prospects, says biggest shareholder Castle

Jonathan Underhill
Thu, 24 Nov 2016

By Jonathan Underhill Nov. 25 (BusinessDesk) - Bapcor's offer for Hellaby Holdings is "compelling" and in trying to fend off the approach, the diversified investor has overstated its prospects and its independent valuation has omitted some costs, says Hellaby's biggest shareholder, Castle Investments. Castle, owned by the Hugh Green Trust, holds 27.2 percent of Hellaby and along with Salt Funds Management and Accident Compensation Corp had entered a "pre-bid lock-up agreement" with Bapcor and accepted the offer.  "We carefully evaluate...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Consent refused for Thiel's luxury lodge
Brent Melville | Thu, 18 Aug 2022

It'll be back to the drawing board for the tech billionaire's NZ team, after their consent application was turned down by hearing commissioners.

Xero’s US revolving door continues to spin
Jenny Ruth | Thu, 18 Aug 2022

Xero’s progress in Britain continues to be “more subdued than we’d like”, chief executive Steve Vamos told the annual shareholders’ meeting.

Artists could get resale royalties – but what about TradeMe?
Warren Feeney | Thu, 18 Aug 2022

Those in the art world are asking where TradeMe fits into the conversation as NZ starts to pay artists a percentage of the resale of their works.

In uncertain times, bricks and mortar hold steady

Can real estate provide a hedge against high inflation? Scott McKenzie, CEO of PMG Funds, talks about why tangible assets can be defensive and how PMG’s latest investment offer will help make the fund more resilient.

Communication the barrier to ‘human firewall’ technology

Communication is the barrier to New Zealand adopting the global Zero Trust cybersecurity strategy, says a new survey.