Grand Parade Investments plans further asset sales
The investment holding company plans to continue the controlled sale of assets to narrow 40% discount to intrinsic NAV of its investments
Grand Parade Investments (GPI), the empowered investment holding company with interests in food and gaming, plans to continue selling assets in an attempt to narrow the discount between the holding company’s market value and the intrinsic net asset value (NAV) of its underlying investments.
The next investment destined for the chopping block appears to be Mac Brothers, the wholly owned manufacturer of catering, medical and laboratory equipment, which posted an after-tax net loss of R83.2m in the 12-months to end-June 2020, and just more than R6m in after-tax losses in the half-year to end-December. In its interim results presentation on Friday, GPI said it plans to improve Mac Brothers’ profitability and investigate an exit from the business it has held since 2014. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.