Carter Group boss picks up Torchlight stake in Heartland

Wed, 11 Jul 2012

By Paul McBeth July 12 (BusinessDesk) - Philip Carter, of Christchurch property investor Carter Group, has emerged as a major investor in would-be bank Heartland New Zealand after buying an $8 million stake from Pyne Gould's Torchlight Investment Group yesterday. Carter, who also holds 1.8 percent of Pyne Gould, has built up a 5.4 percent stake in Heartland, after buying 15.4 million shares from Torchlight in an off-market deal, according to a substantial shareholder notice. Between March and July he bought almost 919,000 shares at an averag...

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