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TEXT-NZ's F&P Appliances says strong interest in finance arm

Sun Dec 16, 2007 7:48pm EST

(The following statement was released by the company)

WELLINGTON, Dec 17 - Fisher & Paykel Appliances Holdings Limited has released the Information Memorandum on its Finance Business. The document, which was despatched on 14 December, was sent to more than 10 interested parties.

"We are extremely pleased with, not only the number, but also the quality of interested parties that have approached us," said John Bongard, CEO and Managing Director. "The level of interest has certainly justified our decision to investigate the possible sale of this business."

Indicative bids are due by the close of business on 13th February, 2008, with final offers due by late March, 2008. Fisher & Paykel Appliances have previously indicated that the Finance business will only be sold if the company's internal value expectations are exceeded.


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