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AUSTRALIA: Kreglinger increases stake in Piper's Brook

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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.


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