GPG is making a partial takeover offer for the Australian agribusiness company, Tandou.
The investment vehicle chaired by Sir Ron Brierley, is already the second-largest shareholder in the company, with a stake of 19.9%.
If GPG is successful in gaining 60% of Tandou, it says it will sell or close activities that are not producing an economic return to shareholders.
GPG says Tandou's business strategy needs urgent reconsideration.
It's offering 30 cents per share - 2 cents more than the company's shareprice on Friday morning.