Brierley's stake in cashed-up Kirks rises to 11%

Wed, 07 Sep 2016

By Edwin Mitson Sept. 7 (BusinessDesk) - Ron Brierley's Mercantile Investments has increased its stake in cashed-up former Wellington department store Kirkcaldie & Stains to 11.3 percent as he seeks to take control of its remaining assets. Brierley's stake in what's now known as Wellington Merchants has increased to 231,680 shares from 203,137 shares, documents filed with the NZX show. On August 11, he offered $3.45 a share for the business, a 7% premium to its then trading price. Shares are currently trading at $3.44. Brierley's...

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