Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Guinness Peat Selling N.Z. Portfolio; Retains Turners, Tower

Guinness Peat Group Plc, a London- based investor, said it is selling its New Zealand portfolio other than its two major investments in Turners & Growers Ltd. and Tower Ltd.

New Zealand based executive director Tony Gibbs was fired in June after he publicly objected to a board plan to demerge the company’s Australian unit. The Auckland office has closed and the investments are being sold because there are few opportunities and the operation “has necessarily become expendable,” Chairman Ron Brierley said in a statement.

The 66 percent stake in Turners & Growers and 35 percent holding in Tower will be managed from Australia.

Guinness Peat, which owns Coats Plc, the world’s biggest thread maker, is listed in London, Australia and New Zealand and most of its shareholders are in New Zealand.

The company posted an 11 million pound ($24 million) profit from continuing operations in the six months ended June 30, from a 12 million pound loss a year earlier, it said. Coats earnings improved and investment returns showed a deficit, it said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.