St Laurence signals ownership change
Australasian property investment and finance group St Laurence Ltd is signalling a change in its ownership structure.
Tuesday, February 13th 2007, 6:26AM
Shareholder BG Capital Ltd, which holds the interests of director Phil Newland, has exercised an option to sell its 20% stake back to the major shareholders.
Preliminary discussions indicated a new investor will seek a cornerstone stake in the company and Newland would become a non-executive director of companies within the St Laurence group.
"We will only bring in a new partner that fits the culture and direction of the company, provides synergies with our existing business and adds future value to investors in all our funds and investment vehicles," he said.
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