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Provider: Wright Reports
Provider: Thomson Reuters Stock Report

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Hellaby Holdings Ltd To Acquire 85% Stake In Contract Resources Holdings Limited

Wednesday, 26 Dec 2012 04:30pm EST 

Hellaby Holdings Ltd announced that it has conditionally agreed to acquire an 85% majority shareholding in the Contract Resources Holdings Limited (Contract Resources). The acquisition places an enterprise value (debt plus equity) on Contract Resources of NZD 116 million. Hellaby's 85% shareholding equates to a purchase price of approximately NZD 73 million, exclusive of an estimated NZD 30 million debt that it is proposed be included in the acquisition vehicle, subject to purchase price adjustments included in the Share Sale Agreement. Contract Resources offers the portfolio and geographic diversification and it is exposed to the oil and gas sectors which Hellaby has identified as strategically attractive, and it offers an intellectual property. 

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