Mariner sells Farm Pride and Peanut Butter Company shares

 Mariner Corporation has announced it has sold its stake in Farm Pride Foods Limited.

In an announcement on the Australian Stock Exchange (ASX) this morning the company, which has offices in Boston, London and Tokyo, as well as Australia, said it has handed its 12 per cent stake back to the market.

The sale will represent a $196 786 increase in Mariner’s finances, which acquired a stake in Capalino Honey earlier this week.

Mariner, which significantly changed its business structure and focus as a result of the Global Financial Crisis, (GFC) said the Capalino purchase was one part of the company’s move towards Australian food companies.

“The acquisition is the final part of a series of 4 acquisitions from GPG for a total consideration of $3 160 000, as announced to the market on 2 February 2012, and follows other recently announced Mariner Settlements of a 19.83% stake in Peanut Butter Company of Australia Limited, a 12.02% state in Farm Pride Foods Limited and a 19.65% stake in Tasmanian Pure Foods Limited,” it said.

Surprisingly, another ASX announcement this morning said Mariner has sold its 19.83 per cent stake in the Peanut Butter Company of Australia for $315 000.

 

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