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Montevideo, November 20th 2018 - 19:45 UTC

American trust becomes largest single shareholder of FIH

Wednesday, May 3rd 2017 - 08:32 UTC
Full article 4 comments
The investment vehicle Staunton Holdings Limited has got rid of all its shares in the Islands lynchpin Falkland Islands Holdings The investment vehicle Staunton Holdings Limited has got rid of all its shares in the Islands lynchpin Falkland Islands Holdings
In March Argentine property billionaire Eduardo Elsztain repeatedly expressed interest in the FIH stake but never made a bid. In March Argentine property billionaire Eduardo Elsztain repeatedly expressed interest in the FIH stake but never made a bid.

Conservative Party donor David Rowland has thrown in the towel in the Falkland Islands after losing a battle to take control of its key industries. The Rowland´s family investment vehicle, Staunton Holdings Limited has got rid of all its shares in the Falkland Islands Holdings (FIH) after shareholders rejected a takeover, reports the London financial media.

 The 71-year-old's son, Edmund Rowland, netted £9.3million by selling 3.1m FIH shares at 300p each through Staunton on April 28. The investment vehicle Staunton Holdings Limited has got rid of all its shares in the Islands lynchpin Falkland Islands Holdings

He has also stepped down as chairman of FIH. The AIM-listed company was created by Royal Charter in 1852. It owns property, retail shops and hotels and sells insurance in the South Atlantic disputed territories.

In March it became the centre of a takeover battle between Rowland and Argentine property billionaire Eduardo Elsztain, who repeatedly expressed interest but never made a bid. The Rowlands’ exit could pave the way for a revived takeover tilt from Elsztain and his Dolphin Fund. Anyhow he will have to wait six months before making a bid under UK takeover rules.

The battle triggered warnings from the Falklands' elected government that the company could lose its special permission to buy land without a license if ownership changed.

But Staunton's 300p-per-share offer for the 75% of shares it did not already own lapsed on April 6 when it was backed by only 34.7% of shareholders. On Monday the board announced that Staunton and its associated company Blackfish Capital had no interests left in the company following Rowland's sale.

They have been replaced as the largest single shareholder by long-standing investor The Article 6 Marital Trust, which has bought 3.6m shares giving it a 28.9% stake. The Article 6 Marital is the family trust of Jerry Zucker, the Israeli-born American businessman who died in 2008. Zucker is best known as the former owner of Canadian retail giant Hudson’s Bay Company.

 

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  • Think

    Boker Tov... Cmdr Mc.Dod...

    Any comments...?

    Tzeth'a Leshalom VeShuvh'a Leshalom... ;-)

    May 03rd, 2017 - 10:16 am 0
  • Doveoverdover

    I remain “gobsmacked” that the Conservatives are turning out to be the party that is content to give up Maggie Thatcher's beloved islands. At least Corbyn only wants an “accomodation”. The colonists look to be between a rock and a hard place with Mrs May's likely to keep her PM position. Can Baz save them I wonder?

    May 06th, 2017 - 06:01 am 0
  • Think

    Geeeeeeeee.......

    All that Engrish posture against the Argie Jew...
    And he ends making one of his Chabad Chums to buy them Engrish out...

    ;-))))))))

    May 06th, 2017 - 10:09 pm 0
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