AUSTRALIA: Harvey Buys Big Stake In Rebel Sport
Gerry Harvey, billionaire chairman of electrical goods and furniture retailer Harvey Norman Holdings Ltd, has added an 8.8 per cent stake in Rebel Sport to his long list of investments, the Courier Mail (Queensland) reported Friday.
"I've taken up a position in lots of companies," Mr Harvey said. "It's just that Rebel Sport's a little one so it looks like a lot - I've actually got more money in other companies than Rebel Sport." Mr Harvey already had a 1.3 per cent stake in the sporting goods retailer, having purchased 800,000 shares a couple of years ago.
His latest purchase, disclosed Thursday, positions Mr Harvey as a substantial shareholder with a stake worth about $3.85m in a $44.96m company.
The Rebel Sport purchase appears to be a personal investment. "I bought my shares so that I could get some sporting goods cheap," Mr Harvey remarked. "I'll write to the board and ask them if they'll give me things at cost now that I'm a big shareholder." He refused to comment on the possibility of a takeover.
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