Source: Radio New Zealand
Jim Grenon’s stake now sits 0.1 percent below the threshold that would trigger a compulsory takeover offer. Supplied/RNZ: Brad White
New Zealand-based Canadian billionaire Jim Grenon has increased his shareholding in listed media company NZME, owner of the New Zealand Herald and Newstalk ZB.
A notice to the NZX shows Grenon spending just under $2 million to aquire almost 1.8 percent of NZME, making him its largest shareholder.
His total stake now stands at 19.9 percent, just below the 20 percent threshold that would trigger a compulsory takeover offer under New Zealand law.
Seperately, NZME director and former cabinet minister Steven Joyce has almost doubled his shareholding to just over 100,000 shares.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
