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St Laurence raises Rural Equities bid

Thursday 24th of June 2004

St Laurence yesterday upped its offer by 10c to $1.60 a share, valuing Rural Equities at more than $23 million.

Rural Equities is a spinoff of rural services group Williams & Kettle. It owns 32 per cent of Rural Property Trust and manages the trust assets, which include about 30 farms and a 856ha forest near Ngaruawahia, with a total net value of about $103 million.

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