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Fletcher Challenge Energy Separation Update
Fletcher Challenge Energy Separation Process Update
AUCKLAND, 21 August 2000 – Commenting on the
application to the New Zealand Commerce Commission filed by
Shell Exploration Company BV (“Shell”) this morning to
acquire the New Zealand operations of Fletcher Challenge
Energy, Michael Andrews the Chief Executive Officer of
Fletcher Challenge Limited said today: “the approval of the
Commerce Commission is an obvious and necessary
pre-condition to any potential purchase of these assets by
Shell. Clearly we do not know whether Shell will be
successful in its application and if it is, whether it will
move to submit an offer for these assets. Therefore, this
application should be seen as a very preliminary step in a
long process”, he said.
Mr Andrews reiterated the commitment of the company to keep shareholders informed of progress in the dismantling of the group targeted share structure.
Ends
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