Home / Knowledge / News / Textiles / Aussie wool merchant Lempriere bids for NZWSI takeover
Aussie wool merchant Lempriere bids for NZWSI takeover
31
Oct '12
In its formal offer for takeover of New Zealand Wool Services International (WSI), Australian wool merchant Lempriere Holdings has hinted that it would not sell the NZ firm’s scouring assets to its competitor Cavalier Wool Holdings.
 
In the official offer document, WSI Holdings, a partner firm of Melbourne based Lempriere Holdings, made an offer of 45 cents per share to WSI shareholders, which would take the total sum to US$ 31 million.
 
Presently, WSI Holdings already holds 75 percent shares of WSI that it acquired through lock-up deals with WSI senior managers and receivers of two Allan Hubbard-associate firms, who helped it secure 11 percent and 64 percent stake, respectively. However, the takeover proposal is subject to the WSI Holding obtaining Overseas Investment Office’s approval for the deal.
 
Last year, Cavalier Wool Holdings made an offer to takeover the scouring assets of WSI for US$ 40 million. If the bid would have been received well and approved by the Commerce Commission, it would have earned Cavalier an official monopoly over NZ wool scouring industry.
 
In its offer document, WSI Holdings said it looks forward to carry out a strategic review of WSI and its subsidiaries, but also hinted that in spite of knowing about Cavalier Wool Holdings Limited’s interest in acquiring WSI’s wool scouring assets, it does not intend to sell the same.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

Pakistan invites Chinese firms to invest in Apparel Park

At a road show to set up the Quaid-e-Azam Apparel Park, Pakistan's...

Information Technology | On 23rd Feb 2017

Lectra unveils supply chain programme for fashion industry

Lectra, the world leader in integrated technology solutions dedicated ...

Textiles | On 23rd Feb 2017

Gujarat govt announces Rs 1,000 cr package for MSMEs

In its state budget for 2017-18, the Gujarat government has announced ...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search