F&P Finance future being considered
Fisher & Paykel Appliances says it is reviewing the ownership of its finance business and is considering selling it.
Friday, 16 November 2007
"Fisher & Paykel Finance has been operating in the New Zealand finance sector for over 30 years. It has a strong portfolio of products supported by a diverse funding base and has performed consistently well for the group."
FPA says that over the past few years it has received a number of unsolicited expressions of interest to acquire its finance company.
"Given recent strong interest, FPA has decided to investigate the level of potential interest in the business."
FPA chief executive John Bongard says he is expecting "market consolidation will occur in the finance sector in the short to medium term and so the timing is right to consider our strategic options, including possible sale."
He says the Farmers Card and Q Card businesses have performed strongly in the finance portfolio.
"These will be attractive assets to potential buyers.
However we will only divest the business if offers exceed our internal value expectations."
FPA's board has not yet made any decision as to whether to sell the finance company. Deutsche Bank will be FPA advisers through the process.
Commenting is closed
Weekly Updates including news and commentary
Today's Best Bank Rates
Today's Top 5 Deposit Rates
Find a Rate
Cash PIE Rates
21 June 2017
6 June 2017
4 May 2017
10 April 2017
Disclaimer - Every possible effort has been made to keep the information in the tables and on this site as accurate as possible, however, neither the publisher, Tarawera Publishing, nor anyone engaged to compile the rates and this site accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details with providers. The full terms and conditions of this site can be found here.
© Copyright 1997-2017. Tarawera Publishing Ltd. All Rights Reserved.