Brierley continues GPG sell down

CLAIRE ROGERS
Last updated 09:50 12/11/2012
GPG 0.680 0.00 0.00%
GPG

Click for a detailed chart

tdn Sir Ron Brierley stand
CASHING UP: Sir Ron Brierley is continuing to sell down his GPG holding.

Relevant offers

Industries

Business briefs: new casino bosses Liquidator to pay for 'buffoon' comment New Zealand stocks "fair value" Business backs Labour's manufacturing plan Consumers chipper as economy picks up Labour market takes off BNZ names new chief executive Need to know: Thursday April 17 Garden centres snub Easter law Construction prices still rising

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

- © Fairfax NZ News

Comments

Special offers

Featured Promotions

Sponsored Content