Sharechat Logo

Lion looks to boost Montana stake beyond 25%

By Phil Boeyen, ShareChat Business News Editor

Wednesday 9th August 2000

Text too small?
Lion Nathan has moved to further strengthen its stake in wine producer Montana by purchasing shares from Guinness Peat Group.

Lion issued a notice to the sharemarket Wednesday saying it had increased its stake in Montana from 20.97% to 24.96% through an off market purchase from Ithaca Limited, a GPG nominee company.

Lion has also agreed to purchase another 7.074 million Montana shares, or 3.29% of the company from Ithaca, with the purchase being conditional upon the consent to the transaction of the Overseas Investment Commission Documentation.

If approved the purchase will bring Lion Nathan's total stake in Montana to 28.26%.

Market speculation has centred on Lion boosting its Montana holding to ward off a possible bid from Aussie wine business, Southcorp.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Lion Nathan shareholders overwhelmingly approve A$3.4b Kirin takeover
Daily ShareChat: Lion Nathan
Lion Nathan on track to meet profit forecast; NZ clears way for Kirin takeover
Daily ShareChat: Lion Nathan | Kirin
NZSE strikes out Lion complaint
Allied mops up Montana
Allied gets Montana green light
Lion Nathan sells to Allied
New Allied bid recommended
Lion Nathan seeks High Court review