By PHILIPPA STEVENSON agricultural editor
The rival bidders for monopoly apple- marketing company Enza have been putting their heads together.
Last night, Guinness Peat Group's Tony Gibbs said talks had been held with associates of Timaru millionaire accountant Allan Hubbard, identified at the weekend as behind a group also keen to buy
a substantial stake in the grower-owned company.
"There have been fruitful discussions that are continuing," said Mr Gibbs, who previously said no deals would be cut with Mr Hubbard.
GPG and FR Partners created a stir with their surprise $1.50-a-share bid for a combined 40 per cent of Enza, as the former Apple and Pear Board's marketing arm had been restructured as a grower-owned company only in April.
By last Friday, when Enza advised of another, higher offer, GPG and FR Partners claimed to jointly have around 13 per cent of the 20 million shares.
The new bidder was identified by Enza chairman John McCliskie as Mr Hubbard, a director of Hawkes Bay Apples, which recently bought the country's biggest apple producer, Eastern Equities.
Mr Hubbard's Timaru accountancy firm, Hubbard Churcher, puts together syndicates to invest in rural assets.
On Tuesday, John Stark, a partner in Hubbard Churcher and a director of Hawkes Bay Apples, said he expected to have had "confirmation from other people" to enable him to make a statement. However, yesterday he was still unable to comment, as the potential bidders were waiting for information.
"If there is to be another bid, there is no actual time stated for that, and there is still information to come from Enza itself as to what the valuation process will produce."
He said the valuation information on Enza was just "one of the factors involved."
