Once Bapcor attains a 90% stake, it can enforce mop-up provisions under the Takeovers Code, meaning hold-out shareholders will have to sell. Craigs Investment Partners broker Peter McIntyre said ``high on the agenda'' of Bapcor would be divestment of unwanted divisions. ``[However] its first port of call is to get to 90%, which looks like it could be this week,'' he said. Bapcor's beachhead in New Zealand, through Hellaby's 120 auto-parts and services outlets, builds on its 750 outlets in Australia, many from an earlier company takeover. Its Contract Resources division is a specialist international technical services company for owners of complex processing facilities, including the oil, gas, petrochemical, mineral and power generation sectors.

Source: Otago Daily Times January 30, 2017 17:03 UTC