Brierley continues GPG sell down

CLAIRE ROGERS
Last updated 09:50 12/11/2012
tdn Sir Ron Brierley stand
CASHING UP: Sir Ron Brierley is continuing to sell down his GPG holding.

Relevant offers

Industries

Proposed ban may stop wine adverts Hugh Green's family fight over his $400 million fortune Datacom wins $247m Australian contract Jobs lost as MBIE restructures Solid Energy chairwoman quits over disagreement with Finance Minister Auckland port told to stop wharf extension for now Property values outside of Auckland flattening out, says QV Looking for the next "Jonah Lomu" for the oil industry Forestry margins 'too tight' MYOB owner dismisses Xero criticism

Sir Ron Brierley has sold A$2.3 million (NZ$2.9m) of shares in Guinness Peat Group, after cashing in another tranche of shares worth $2.87m late last month.

Based in Sydney, Sir Ron now holds 41.88 million shares, or 2.58 per cent, of the investment company which is winding itself down. That stake is worth $24.7m based on GPG's current NZX price of 59c.

GPG recently announced it was halfway through its asset divestment programme and said it would rename itself as Coats – the British threadmaker it owns – once it becomes its primary remaining investment.

Sir Ron last year took a controlling stake in ASX-listed investment vehicle, India Equities Fund which he said would have a similar model as GPG but on a much smaller scale.

The fund has changed name to Mercantile Investment Company.

Ad Feedback

- BusinessDay.co.nz

Comments

Special offers

Featured Promotions

Sponsored Content