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Seven Group Holdings Limited

( ASX:SVW ) - Capital Goods

News

Seven Group Buys Out Coates Hire

It’s been talked about for years, mentioned for months and then negotiated for almost as long – or so it seems from the numbers of reports to that effect – we are talking about Kerry Stokes’ key company, Seven Group Holdings finally buying the 53% of Coates Hire it didn’t own from Carlyle Group and others for $517 million.

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The Curious Case Of Seven Group Holdings

At the beginning of this month, Seven West Media (ASX: SWM) announced its full year financial results which fell short of market expectations. In addition, earnings guidance for the next financial year were also below expectations. In a brutal two-day period following the announcement of its results, Seven West Media’s share price declined by 28 per cent. In dollar terms, more than $400 million was wiped off the value of the company.

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