Sterling Grace buys out Trustees Executors minorities for $4.9 mln

Wed, 07 Feb 2018

By Paul McBeth Feb. 8 (BusinessDesk) - Sterling Grace (NZ) bought out the minority shareholders of Trustees Executors for $4.9 million, valuing the local supervisory firm at $94.4 million, almost four times what the New York-based financial services investor paid in 2003. Accounts for Sterling Grace show the investment vehicle of the Grace family bought out minority shareholders owning 5.2 percent of Trustees Executors in the September 2017 financial year, a period when the supervisory firm paid a $15.9 million dividend. Sterling Grace b...

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