Guinness Peat Group (GPG), the activist shareholder, has continued its move away from the pub/brewery sector by announcing plans to sell its remaining stake in Young’s.
GPG is to sell its 4,472,924 remaining shares in the London-based pub operator for £5.50 per share - it has a 15.4% stake in Young’s.
Last month GPG announced it had sold its remaining 235,235 shares in Shepherd Neame and last year it sold its 5.4% stake in Adnams for around £2.2m. The latest announcement means only Thwaites, the Lancashire-based brewer and pub operator, remains among GPG’s investments in the sector.
Last February, Guinness Peat said it planned to sell off its asset portfolio, leaving the investment holding firm with just its thread manufacturing business.
