GPG looks to list Coats

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The Independent Online

Guinness Peat Group is looking to sell or list Coats, the sewing thread and needlecraft products firm with 22,000 employees in 71 countries, within the next two years.

The company, used as an investment vehicle by the veteran New Zealand corporate raider Sir Ron Brierley, is also planning to demerge its Australian business as it looks to unlock shareholder value.