Guinness Peat Group PLC (GPGPF.PK,GPG.L) announced that it has accepted Peet Limited's (PPC.AX) takeover offer for its 73% shareholding in CIC Australia Limited (CNB.AX). The Group noted that Peet has announced its takeover offer for CIC Australia is unconditional. Guinness Peat expects to receive total sale proceeds of approximately 37.5 million pounds.
The Group said it has accepted Peet's offer because it is compelling relative to other value realisation alternatives. Guinness Peat Group currently sees little prospect of a superior proposal emerging.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.