Guinness Peat to rename as Coats once portfolio reduces, lifts buyback to 70M pounds

Wed, 24 Oct 2012

Oct. 25 (BusinessDesk) - Guinness Peat Group will rename itself as Coats once it has reduced the other assets in its portfolio and has lifted its buyback target to 70 million pounds from 10 million pounds. The plans are detailed in an update to GPG’s asset sale programme which has now realised 50 percent by volume and value of the portfolio it held at Jan. 1, 2011. Since then it has sold assets including the A$124 million sale of ClearView Wealth, made a capital return of 80 million pounds, a 12 million pound cash dividend with 6 million po...

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