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Reduction of Commonwealth shareholding in AIDC Ltd



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JOHN BUTTON Minister for

INDUS'TRY. TEUUNOLCKiY V- . ' 1 ________________

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IMMEDIATE RELEASE WEDNESDAY 19 AUGUST 1992

REDUCTION OF COMMONWEALTH SHAREHOLDING IN AIDC LTD

The Commonwealth has decided in principle to reduce its shareholding in AIDC Ltd from the present level of 81 per cent to 51 per cent, the Minister for Industry, Technology and Commerce, Senator John Button, confirmed today.

The reduction is part of the proposed sale of various major assets announced in yesterday's Budget. The assets will be sold over the next three years.

"The AIDC shares will not be sold this year, but at a time when the Government is able to get full value for the underlying assets in AIDC Ltd," Senator Button said.

"The sale will be effected in a manner that will ensure minimal disruption to the share price and the company's operations."

CANBERRA Contact:

Adrian Caddy Development Capital and Business Taxation Branch DITAC

(06) 276 2200

COMMONWEALTH PARLIAMENTARY LIBRARY MICAH