Australian company Lempriere Holdings has indicated it would not sell New Zealand Wool Services International's scouring assets if its takeover bid is successful.
Wool Services International this week received a takeover notice from WSI Holdings Pty Ltd (WSIH), an associated company of Lempriere, for a full takeover offer for all the ordinary shares in WSI at 45c a share.
In the notice, it said WSIH was aware of Cavalier Wool Holdings Ltd's interest in the woolscouring assets of WSI and it had "no intention" of disposing of those.
The future of WSI has been under a cloud for some time after the Commerce Commission granted authorisation to Cavalier Wool Holdings in June last year to make an offer for its woolscouring assets.
WSI later confirmed it was planning capital raising in its attempt to buy the 64% of the company owned by Plum Duff and Woolpak Holdings and under the control of a receiver.
Last month, that stake of the company was locked up for sale to Lempriere at 45c per share, along with a further 11% of WSI shares held by five senior employees and another retiree.
WSI said it would be appointing an independent adviser to assess the offer and give advice on the merits of it.
WSIH intended to initiate a strategic review of WSI and its subsidiaries, the notice said.
