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


OIO Approval Received - Haier Offer Now Unconditional

31 October 2012

OIO Approval Received - Haier Offer Now Unconditional

Haier New Zealand Investment Holding Company Ltd's (Haier) offer for all the shares in Fisher & Paykel Appliances Holdings Ltd (Fisher & Paykel Appliances) is now unconditional.

Haier has received consent of the Overseas Investment Office to proceed with its offer to acquire all the shares in Fisher & Paykel Appliances Holdings Ltd, the final regulatory approval required for the transaction to proceed.

Haier has now formally declared its offer unconditional.

Shareholders have until 5:00 pm on 6 November 2012 to accept the offer, unless it is extended in accordance with the Takeovers Code. Shareholders who accept the offer on or before this date will be sent their payment in full on or before 13 November 2012.

Mr Liang Haishan, Chairman of Haier New Zealand Investment Holding Company Ltd, and President of Haier White Goods Group, said Haier wanted to be very clear that no further increase to the offer price was being contemplated by Haier and that shareholders now had all information on which to base a decision.

“The support of the Fisher & Paykel Appliances Independent Directors for our revised offer price, acceptances by major shareholders, and the generally positive market reaction are clear indications of the very good value of our offer,” he said.

Haier advised earlier today that it had received approval to proceed with the transaction from the Commerce Bureau of Qingdao Municipal Government, which was the final Chinese regulatory approval required for the transaction to proceed.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Shocking Dairy Footage: MPI Failing Our Animals And Damaging Our Reputation

Greens “Nathan Guy needs to urgently look into how his ministry is enforcing animal welfare standards, how these appalling incidents happened under its watch and what it’s going to do prevent similar incidents happening again in the future." More>>


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news