Guinness Peat sells remaining 235,235 shares in 300-year-old British brewer

Monday 14th May 2012

Guinness Peat Group, the diversified investor winding up its portfolio to return funds to shareholders, has exited its remaining stake in Shepherd Neame, a 300-year-old family controlled British brewer.

GPG sold 235,235 shares in Neame, which trades on the London-based PLUS stock exchange. The stock last traded at 710 pence, valuing the stake at about 1.67 million pounds.

The stock reached as high as 920 pence in July last year. Neame’s beers include Spitfire and Bishops Finger, and it owns about 360 pubs and hotels in the southeast of England, according to its website.

GPG shares last traded at 49.5 cents on the NZX, down from as much as $1.56 in May 2007.

BusinessDesk.co.nz

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