NZ mill sold
Goodman Fielder is to sell Champion Milling in New Zealand for $NZ51 million ($40 million) to Nisshin Flour Milling of Japan, and has agreed to Nisshin continuing to supply flour to Goodman Fielder.
Investors in the failed Banksia Securities are expected to get at least half of their investment back. Banksia went into receivership in October owing $660 million to about 15,000 investors. Debenture holders are getting an initial distribution of 20? in the dollar as part of an estimated total repayment of between 50? and 65? in the dollar, receivers McGrathNicol said.
Village Roadshow is to sell its distribution centre in Sydney. It said its subsidiary, Roadshow Films, had entered into an agreement to sell the centre to Technicolor Distribution.
Lansley on board
Corporate lawyer Alison Lansley has been appointed to the board of NBN Co. Current board member Terry Francis has also been reappointed.
ANZ in Burma
ANZ is the first Australian bank to be approved to open an office in Burma.