Rank had assets of approximately NZ $3bn in cash after selling the assets of Burns Philp and floating Goodman Fielder in 2004 and bankers estimated that it could use that equity as leverage to raise as much as NZ $12bn for acquisitions.
Rank had assets of approximately NZ $3bn in cash after. Rank was selling the assets of Burns Philp. Rank was floating Goodman Fielder in 2004. It could use that equity as leverage. This is to raise as much as NZ $12bn for acquisitions. This was what Bankers estimated.