Asian Company Grows Stake In Rank Group
Published: Thursday, February 07, 2008 Online-Casinos.com
ASIAN COMPANY GROWS STAKE IN RANK GROUP
Guoco now owns a 23 million share slice of Rank plc action
In a move that increases its holding in UK gambling group Rank plc to 6.05 percent, the Asian-based property investment group Guoco managed by Quek Leng Chan, has expanded its holding in the UK casino, bingo and online betting company to 23 million shares.
Guoco held 4.09 percent prior to this week's acquisition of further equity.
Malaysia-based gaming group Genting has also built a 10 percent stake in Rank, and analysts say the Richardson property and haulage family has acquired a 9 percent holding (see previous Online-Casinos.com/InfoPowa reports).
Guoco is a property investment group, and bought the Clermont Club in London's Berkeley Square from Rank in 2006 for GBP 31million.
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