15 Jun 2012

Holding sold by GPG

12:23 pm on 15 June 2012

Guinness Peat Group has sold its fourth largest holding, Young & Co Brewery, for about £54 million.

The price received for the stock is 12% below the market price, but GPG says it's a reasonable return for a family-controlled company with an illiquid stock.

The company founded by Sir Ron Brierley is currently selling all its assets, bar its thread making business Coats, and returning the cash to investors.