Hellaby to delist by March 8, independent directors depart

Tue, 07 Feb 2017

By Sophie Boot Feb. 8 (BusinessDesk) - Hellaby Holdings will delist from the NZX by March 8, after ASX-listed auto firm Bapcor succeeded in its $352 million takeover of the diversified investment group earlier this month. Shareholders had until 11:59 pm yesterday to accept or reject Bapcor's $3.60 per share offer. As at 8:30 am, Bapcor held 94.16 percent of Hellaby shares, beyond the 90 percent threshold that allows it to compulsorily acquire the remaining shares. Bapcor had already lifted its holding above 90 percent as of Feb. 1. The sh...

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