Allco HIT held talks over sale of Strategic Finance unit

Thursday 26th June 2008

Allco HIT Ltd., a diversified finance company listed on the ASX, said it held talks on the sale of its Strategic Finance unit with a group including managers.

No formal agreement has been reached after "high-level discussions with a consortium of management and other parties," Allco said.

Strategic, a New Zealand-based property finance company, this week said it was undertaking "an intensive review of its business." The review covers provisioning, liquidity and doubtful debt levels, which may be at higher levels than previously reported.

The yield on Strategic's perpetual preference shares was last quoted at 35%.

By Jonathan Underhill

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Fonterra announces Mainland Group leadership change
OCA - Oceania announces Director changes as part of Board refresh
AIA - Analyst and media webcast for FY26 interim results
The Warehouse Group confirms leaner operating structure
SML - Synlait provides half year performance update
RYM - Refreshed strategy and new capital management framework
ENS - Clarification of Gina Tuzcet’s status
BGP - 4th Quarter Sales to 25 January 2026
Contact Energy 2026 Half Year Results Presentation
February 2nd Morning Report