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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.