Latest news with #cross-shareholding
News.com.au
5 days ago
- Business
- News.com.au
Soul Patts and Brickworks agree to $14b merger
Diversified investment house Soul Patts is merging with its long-term corporate partner the industrials company Brickworks. The two businesses have had a unique cross-shareholding structure since 1969, with Soul Patts owning 43 per cent of Brickworks and Brickworks owning 26 per cent of Soul Patts. The merged business will be chaired by Robert Millner, the fourth member of the Millner family to run Soul Patts.
Bloomberg
5 days ago
- Business
- Bloomberg
Soul Patts, Brickworks Combine After 56 Years of Cross-Ownership
Australian investment firm Washington H. Soul Pattinson and Co. and Brickworks Ltd. agreed to combine, finally simplifying a cross-shareholding between the two businesses that stretches back almost 60 years. Soul Patts, as it's known, owns 43% of Brickworks. Australia's largest brickmaker has a 26% stake in Soul Patts. The arrangement was designed to deliver stable dividends during construction downturns.
