Shares: Taking Stock

Click to follow
The Independent Online
CALEDONIA Investments, the Cayzer family investment vehicle, sold 5.1 per cent of Close Brothers through SBC Warburg at 763p a share, realising pounds 47.3m. The 120-year-old merchant banker ended 10p higher at 790p, a peak.

Caledonia, which retains a 20 per cent holding, has a long association with the merchant bank which advised when the Cayzer interests were concentrated in the investment company and the old British & Commonwealth shipping group cast adrift.

ANOTHER shake-up at Birkdale, the marketing services group. Andrew Moore and his partner Paul Harvey are buying the 8 per cent shareholding of chairman Kevin Morley, a former managing director of Rover Cars.

They are paying 1.37p a share against a 1.5p market price and 17.25p four years ago. Mr Morley, who will leave the group, is buying three Birkdale off-shoots.