Feltex buys back minority interest
Feltex New Zealand Ltd has bought out a minority 20 per cent shareholding held by a British company in its subsidiary Feltex Carpets (N.Z.) Ltd. Feltex has issued 1,900,000 ordinary 50c shares to Carpets International Overseas Ltd, of Kidderminster. The shares were issued in exchange for the 20 per cent holding in Feltex Carpets, held by a C. 0.1. subsidiary, Carpets International Ltd. The British company has held the shares since the establishment of New Zea-
land’s first axminster carpet factory at Riccarton, in 1946.
The .share issue gives C. 0.1. a 4.2 per cent shareholding inFeltex.
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Press, 20 April 1979, Page 12
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102Feltex buys back minority interest Press, 20 April 1979, Page 12
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