7 Nov 2012

More assets sold by GPG

12:36 pm on 7 November 2012

Guinness Peat Group has sold more assets as part of its plans to sell all its investments bar its Coats threadmaking business.

The company sold its stake of 72.5% in Green's General Food for $48 million and a 10% stake in Tourism Asset Holdings for $25 million.

GPG will also get returns from Tower Group's $102 million sale of its health arm as a 34% owner, while it received $5.8 million from a capital return made by PrimeAg, which is also winding itself up.