27 Aug 2012

State in GPG acquired by Soros

5:12 am on 27 August 2012

An investment fund run by US billionaire George Soros has acquired an 8% stake in Guiness Peat Group.

Soros Fund Management increased its holding after buying more shares through its associated company, Quantum Strategic Partners.

A Singapore investment concern last week sold its entire 5.4% stake in GPG.

GPG is the process of winding up the company, selling assets in order to return the money to shareholders.