Christchurch-based Pyne Gould Corp was on the acquisition trail again yesterday, this time snapping up Dunedin's Frontline Finance and Frontline Business Funding.
PGC bought the Frontline businesses from Dunedin businessman John Gilks for $20 million, subject to the approval of Frontline Holdings' 1100 shareholders.
Mr Gilks is left with the standalone home loans business - made up of Frontline Asset Management and Frontline Broking.
PGC will change the names of the finance companies on settlement date of December 22 to allow the home loan businesses to continue trading.
On Thursday, PGC picked up Auckland-based Marac Finance and Marac Securities for $41 million.
- NZPA
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