To sell 20% of your stake at a premium to the current SP is very encouraging for shareholders. Glad I have a little stake in this gem. They've done really well fighting through a lot of events beyond their control
another impediment gone just the chch legacy left , once thats sorted i reckon they be taken over again .. kept a very small parcel from 42c raising
Certainly takes away a huge road block for Tower - market had some expectations that Vero was going to be forced by the Commerce Commission to sell its 19.9% stake.
Overhang is out of the way and the shares have gone to a very good home!
Check into Bain Capital Credit background and it gives a lot of confidence that either Tower will be taken over or with Bain as a cornerstone shareholder, Tower will do very well indeed!
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