GPG turnabout

Friday 31 July 1998 23:02 BST

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GPG turnabout

GUINNESS PEAT GROUP (GPG) has dropped demands for a demerger and the return of cash to shareholders, the support services group Staveley Industries said yesterday. GPG, the New Zealand investment group chaired by Ron Brierley, owns 12.8 per cent of Staveley and had called for the demerger of British Salt and the return of cash to Staveley shareholders. A extraordinary meeting is scheduled for 6 August.

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