ANTHONY HORDERN AND SONS.
HISTORIC BUSINESS SOLD.
NEW COMPANY TO PAY £2,900,000,
Sir Mark Sheldon Chairman.
The business of Anthony Hordern and Sons, Limited, Sydney, has been sold to a new company at the price of £2,900,000.
A meeting of the shareholders of the present company, which is mainly a family concern, will be held on Tuesday next to confirm the
terms of sale, which have already been approved of by Sir Samuel Hordern, governing director of the company, and his co-directors.
The new company will have as chairman Sir Mark Sheldon, and a
new board of directors will be appointed as soon as the company has been legally constituted. Provisional directors have already been appointed.
The controlling capital for the new business will be found mainly in Sydnoy, but shares will be held in Melbourne, Adelaide, and Brisbane.
This sale represents the largest business sale that has ever taken place in the history of Australia.
Mr. Justly Rawlings, the present general manager, is to be manag- , . ing director of the new company.