Holding sold by GPG
Updated at 12:23 pm on 15 June 2012
Guinness Peat Group has sold its fourth largest holding, Young & Co Brewery, for about £54 million.
The price received for the stock is 12% below the market price, but GPG says it's a reasonable return for a family-controlled company with an illiquid stock.
The company founded by Sir Ron Brierley is currently selling all its assets, bar its thread making business Coats, and returning the cash to investors.
Copyright © 2012, Radio New Zealand
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