BIL sells
Brierley Investments says it has sold its 25.1 per cent shareholding in carpet manufacturer, Cavalier Corp, to an undisclosed buyer. The 7,400,000 shares were sold at 85c each making a total consideration of $6.32 million. Cavalier recently said it would issue SIBM of preferential shares as part of its purchase of UEB Industries Bremworth tufted carpet operations. The cost of restructuring the Bremworth business had been a factor in the company’s S2.BM loss in the year ended June 30.
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Press, 9 November 1988, Page 38
Word Count
81BIL sells Press, 9 November 1988, Page 38
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