Nash family sells holding in Durrant
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.WINNEDAEL, the investment vehicle for the South African Nash family, has sold its 25 per cent stake in Goode Durrant, the industrial equipment group, writes Robert Cole.
The holding was placed among existing and new institutional investors at 159p. The market price of the shares was unchanged yesterday at 165p - a five-year high.
Winnedael built up its stake over several months, paying about 120p a share during 1990 and 1991. However, as a South African concern, the value of Winnedael's investment suffered from the devaluation of sterling.
Goode Durrant has been eager for some time to shake off Winnedael, which has criticised its management and its chief executive, Michael Waring. The Nash and Waring families have long- standing rivalries.
In 1991, after speculation that a full takeover was possible, Winnedael was obliged to announce that it had no such plans.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments