28 Feb 2012

Australasian Equity Partners secures more of PGC

1:38 pm on 28 February 2012

The company behind an $80 million takeover of Pyne Gould Corporation has secured more of the firm.

Australasian Equity Partners, which is owned by Pyne Gould's two biggest investors, Baker Street Capital and George Kerr, is offering 37 cents a share, valuing the firm at $80 million.

The unconditional offer has now attracted acceptances from more than 70% of shareholders.

The offer closes on 30 March.