Stokes Aiming To Up Profit Pic From China Sales

KERRY Stokes Seven Group Holdings is reported to be quietly selling some of its sharemarket investments in China in order to consolidate profits. Stokes has an array of business interests in Australia but is well known internationally as the chairman of Australia’s Seven Network.

The Australian reports that Seven Group Holdings aims to bolster balance sheets and crystallize significant profits in investments with the reported sale of a portion of its stake, said to be worth US$250 million, in the Agricultural Bank of China.

www.theaustralian.com.au