Brierley continues GPG sell down

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


Expedia's New Zealand boss speaks out on competition fears, tax structure Porirua cbd gets two fibre networks and high-speed wi-fi Former casino magnate and vineyard owner sued for $3.5 million Ferrybank design finalists to go on display at Waikato Museum Architecturally-designed Wellington central building up for sale How Toyota used Nascar to sway loyal US car buyers VW announces cleaning solution for dirty diesels AFT Pharmaceuticals to list on NZX and ASX in December Brokers view: Positivity may be returning for Kathmandu Successful New Zealanders celebrated at Moet event

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



Special offers

Featured Promotions

Sponsored Content