Guinness Peat to start 10M pound share buyback this week

Mon, 03 Sep 2012

By Paul McBeth Sept. 4 (BusinessDesk) - Guinness Peat Group, which now counts billionaire George Soros as a substantial shareholder, will kick off its share buyback this week. The investment firm will buy back up to 10 million pounds of stock, having signalled its intention to do so at this year's annual meeting and last week's first-half earnings update. At its last trading price of 25 pence on the London Stock Exchange, that works out at about 40 million shares, or 2.5 percent of the firm's outstanding stock. Macquarie Capital (Europe) wil...

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