HELLABY HOLDINGS LIMITED(HBY)

delisted following Bapcor Finance Pty Ltd notice on Wednesday 8 February 2017 that it had commenced the compulsory acquisition process

we understand Bapcor Finance Pty Ltd was successful with an offer of $3.60 cash per share

Brian Gaynor writing in the NZ Herald comments: "In the early 1990s Renouf Corporation was restructured by Tur Borren and Hugh Green and the company changed its name to Hellaby Holdings. As part of this restructuring, Green acquired a 34 per cent Hellaby stake for just $5m. Renouf Corporation had acquired 100 per cent of Kirkcaldie & Stains from UK-based British Overseas Stores in 1985 and the department store owner was one of the assets transferred to Hellaby. Hellaby sold a 40 per cent stake in Kirkcaldie & Stains in 1995 and had reduced its holding to 26 per cent by mid-1997. Hellaby had no remaining shareholding when Kirkcaldie & Stains listed on the NZX in 2001. The department store had a compliant listing without raising any new money from the public."

Hellaby Holdings lifts first-half profit 42 percent as interest costs fell sharply and the profitability of its equipment division recovers

name changed from Renouf Corporation Limited (which listed on the NZX in 1984 following an IPO)