23 Mar 2012

Australasian Equity Partners increases Pyne Gould stake

6:43 pm on 23 March 2012

The company seeking control of Pyne Gould Corporation has secured slightly more of the firm.

Australasian Equity Partners, which is owned by Pyne Gould's two biggest investors - Baker Street Capital and George Kerr - says it now has acceptances giving it 73% of Pyne Gould.

Australasian Equity Partners is offering 37 cents a share, valuing Pyne Gould at $80 million.