HNZ
21/07/2014 11:23
ASSET
REL: 1123 HRS Heartland New Zealand Limited
ASSET: HNZ: Motor Trade Finances Limited
NZX Release
Motor Trade Finances Limited
21 July 2014
Heartland New Zealand Limited ("HNZ") (NZX: HNZ) notes that Motor Trade
Finances Limited (MTF) has issued a release as to confidential and
preliminary approaches made to the Board of MTF regarding the possibility of
HNZ acquiring MTF.
HNZ confirms that it could be interested in acquiring the business of MTF if
the shareholders, franchisees and dealers of MTF were receptive to a
proposal, and if the existing issues between MTF and the Commerce Commission
as to loan fees were substantially resolved.
HNZ does not have sufficient information to comment on the value it would
place on that business, or the timing or structure of any acquisition if a
proposal was welcomed.
- Ends -
For further information please contact:
Jeff Greenslade
Managing Director
Heartland New Zealand Limited
DDI 09 927 9149
End CA:00252903 For:HNZ Type:ASSET Time:2014-07-21 11:23:09