Haier flags possible sale of FPA finance unit as target share price rises to near offer

Tue, 11 Sep 2012

By Jonathan Underhill Sept. 12 (BusinessDesk) – Haier has signalled the possible sale of Fisher & Paykel Appliances’ finance unit, suggesting the consumer credit business may come on the market if the Chinese manufacturer succeeds in its bid for control of the Auckland-based company. Shares of FPA jumped about 13 percent to $1.17 on the NZX today, nearing the $1.20-a-share offer price as investors concluded it will be hard for a rival bidder to emerge given Haier has already sewn up about 37 percent of the target company. The “potential dive...

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