AUSTRALIA: Kreglinger increases stake in Piper's Brook
Australian winery Piper's Brook Vineyard has seen Belgian shareholder G&C Kreglinger increased its holding to 86% by acquiring shares owned, among others, by Pipers Brook director Klaus Perch-Nielsen.
It was thought that Perch-Nielsen might not accept the $A2-per-share offer when Kreglinger first announced its $A30m bid in October last year. But less than 180 shareholders have not accepted the offer, which will not be extended beyond 28 March 2002.
In the first half of this financial year Pipers Brook announced a net loss of $A485,000, compared with a $A9000 loss previously.
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