Guinness Peat Group’s (GPG) new internal investment committee is working to dispose of its stakes in various companies for the best possible price, Chairman Rob Campbell told its AGM in Auckland. 

GPG currently owns 49% of Australian financial services adviser Clearview, which was valued at £76 million ($117.8 million) in the December 2010 full-year accounts. It also owns 35% of major New Zealand insurer Tower NZ with a value of £97 million ($150 million).

“The investment committee has established a disciplined process in seeking to complete the orderly value realisation as efficiently as possible while optimising value for shareholders,” Mr Campbell said.

“Value realisation will arise from active engagement with GPG’s investee companies and a rigorous process seeking to identify opportunities to exit investments in a value-optimising way and in an appropriate timeframe for each investment.”

Mr Campbell gave no indication at the meeting when disposals will start and which companies will be sold off first.