Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Bridgecorp Pleased With Dorchester Pacific Stake

MEDIA RELEASE
August 16, 2004

Bridgecorp Pleased With Dorchester Pacific Stake

Bridgecorp Holdings managing director, Rodney Petricevic says his company’s purchase of a 19.99% stake in Dorchester Pacific is a strategic investment prompted in part by the proliferation of finance companies in New Zealand.

“It’s highly likely that the industry will undergo rationalisation in the future” he said “and we can see advantages in being part of a larger and more diversified grouping”.

“We’re very pleased with the end result. Dorchester has an excellent track record of growth and profitability with strong management and a first class profile with the investing public”.

Bridgecorp is an Australasian group operating as a specialist property financier. It’s local subsidiary is ranked New Zealand’s 6th largest finance company in the latest KPMG Financial Institutions Performance Survey.

Dorchester Pacific’s business is complementary to Bridgecorp’s focusing on consumer and vehicle finance, share-broking and insurance services through a nationwide network of offices. “it’s a very good mix,” said Mr Petricevic “ the companies operate in generally different areas of both the funding and the lending markets”.

Mr Petricevic added that it is business as usual for both companies, “ it’s early days and we have not yet had an opportunity to meet with the Dorchester directors to determine how our two organisations can work together in the future”


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news