James Packer’s private investment company, Consolidated Press Holdings, has completely sold off its stake in womenswear retailer, Noni B (ASX:NBL)
Last August, Mr Packer’s company sold the Pretty Girl Fashion Group for at least $75 million, and emerged with a 10% stake in Noni B.
Noni B says Consolidated Press’ decision to sell its entire $10 million stake in the company was due to a “strategic refocus”.
Yesterday, shares in Noni B closed 1.28% higher at $1.58. The company posted a net profit of $2.5 million in 1H FY17.