{"id":4944,"date":"2013-10-03T04:36:08","date_gmt":"2013-10-03T04:36:08","guid":{"rendered":"http:\/\/coats.com\/?post_type=news_post_type&#038;p=4944"},"modified":"2023-11-20T04:40:00","modified_gmt":"2023-11-20T04:40:00","slug":"completion-of-gpg-investment-portfolio-realisation-programme","status":"publish","type":"news_post_type","link":"https:\/\/www.coats.com\/es\/news\/2013\/10\/completion-of-gpg-investment-portfolio-realisation-programme\/","title":{"rendered":"Completion of GPG investment portfolio realisation programme"},"content":{"rendered":"<p class=\"intro\">\n<p>On 30 September 2013, GPG announced the sale of its entire shareholding (33.6%) in TOWER Limited for \u00a360.7million (NZ$118.3 million).<\/p>\n<p>TOWER Limited represented the last material investment for GPG (excluding Coats) and the imminent completion of this transaction will mark the end of the GPG investment portfolio realisation programme and fulfillment of a key tenet of the revised GPG strategic plan announced to shareholders on 11\u00a0February\u00a02011.<\/p>\n<p>On 1\u00a0January\u00a02011, shortly before the announcement of the revised strategic plan, GPG had an investment portfolio (ex-Coats) with a market value of approximately \u00a3677\u00a0million (NZ$1,322\u00a0million at current exchange rates), consisting of some 55 investments in listed and unlisted businesses in jurisdictions including Australia, New Zealand and the United Kingdom.<\/p>\n<p>It was never intended to embark on a fire sale of the investment portfolio, so considerable time was invested at the commencement of the realisation programme to formulate strategic exit paths and, where possible, do so in co-operation with GPG\u2019s underlying investee companies. \u00a0Most of GPG\u2019s investment portfolio &#8211; in value terms &#8211; consisted of significant shareholdings in illiquid companies. \u00a0The ensuing two and a half year divestment programme has involved a focused effort to realise value through a range of public and private market transactions.<\/p>\n<p>The value realisation programme has been completed within the timetable set by the GPG Board, with total cash proceeds generated since 1 January 2011 of \u00a3698\u00a0million (NZ$1,363\u00a0million).<\/p>\n<p>Following achievement of this milestone, the GPG Board remains focused on repositioning Coats \u2013 the world\u2019s leading industrial thread and consumer textile crafts business \u2013 as a stand-alone listed entity.\u00a0 The GPG Board also remains fully committed to overseeing the UK Pension Regulator\u2019s current investigation into the GPG and Coats related pension schemes. \u00a0This process is likely to continue well into the 2014 calendar year and the GPG Board will keep shareholders informed of any material developments.<\/p>\n<p><strong>ENDS<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>GPG announces the sale of its entire shareholding (33.6%) in TOWER Limited for \u00a360.7 million (NZ$118.3million)<\/p>","protected":false},"featured_media":4882,"template":"","news-type":[149],"class_list":["post-4944","news_post_type","type-news_post_type","status-publish","has-post-thumbnail","hentry","news-type-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.2 (Yoast SEO v25.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Completion of GPG investment portfolio realisation programme | Coats Group plc<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.coats.com\/es\/news\/2013\/10\/completion-of-gpg-investment-portfolio-realisation-programme\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Completion of GPG investment portfolio realisation programme | Coats Group plc\" \/>\n<meta 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