COMPANY BRIEFS

Friday 19th May 2000

Australia's Liberty Oil settled a dispute with Wellington businessmen Simon Wallace and Stephen Bryant over an aborted plan to set up a New Zealand petrol retail chain.

Affco Holdings lifted March first-half profit to $7.4 million, from $6.5 million a year ago.

Completing a market stand for 10.9% of Montana, Lion Nathan chief executive Gordon Cairns went into talks with Montana's Peter Masfen over board representation and other issues.

Ceramco will expand Bendon's markets in Australia and move into Europe following the $41 million sale of the china clays unit. Bendon is forecasting ebit of $7.9 million this year.

Canada's CanWest said it was seeking 75% of RadioWorks after securing the TAB's 12% stake.

Sky Network Television and Independent Newspapers Ltd denied a newspaper report they were "in merger talks" but confirmed the subject had been discussed informally.

Aquaria 21 is having a second try at selling its Shanghai aquarium, this time to Australia's Oceanis Holdings, which will pay $8.3 million.

Justice Hugh Williams found Carter Holt Harvey breached the Commerce Act by cutting the regional price of its Pink Bats insulation material in response to competition.

State-owned generator Genesis signed another coal supply deal, with MacDougall Mining, to secure fuel for its Huntly station in the face of uncertain future gas supply.

Edison Mission Energy is seeking a bank to provide a $20 million letter of credit to remedy a breach of debt agreement caused by Contact Energy's low share price.

Fletcher Challenge Energy abandoned a first well in its Brunei exploration area and began work at a second.

The Commerce Commission cleared Team Talk to buy Telecom's Fleetlink trunked mobile radio business.

Telecom and Clear Communications struck a temporary truce, until August, in their 0867 internet access battle.

Sky City said it may use some of the $150 million it is raising through a capital notes issue to expand into online gaming.

Richina Pacific chairman Sir Allan Wright said the company was on track to return to profit with first quarter operating revenue up 41%, to $161 million.

Tower Group's Tower China unit won "resident representative office" status in China and is applying for a savings and insurance licence and looking for a joint venture partner.

Sharebroker Reuhman & Co will list on the new capital market through an issue of shares in nzij.co.nz.

Listed e-commerce company E-cademy Holdings has announced a marketing alliance with Australian education resource company Hyperstudy.com.

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