Hunter Hall: Peter Hall sells remaining stake to Soul Patts

Company News

by David Chau

Peter Hall has sold his remaining 24% stake in Hunter Hall (ASX:HHL) to Washington H. Soul Pattinson (ASX:SOL) for $2.60 per share.

In December 2016, Soul Pattinson agreed to buy an initial 19.9% stake from Mr Hall for the lower price of $1.

Mr Hall’s decision to sell his shares at much lower price than their market value, triggered a bidding war for his remaining shares and control of Hunter Hall. Soul Pattinson now owns 44.2% of Hunter Hall.

The board of Hunter Hall also made a deal with private fund manager, Pengana, to take control of Hunter Hall via a reverse merger. This deal is currently subject to shareholder approval, and Soul Patts is not eligible to vote on this transaction.

Yesterday, Hunter Hall shares closed 1.12% lower at $2.64.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.