Melbourne's low-profile Munz family is set to join the ranks of the country's billionaire families, as it is poised to receive $873.5 million in cash when plumbing company Reliance Worldwide Corporation lists on the stock exchange later this month.
In addition, the family's private company GSA Group will retain up to a 40 per cent stake in the listed company, worth as much as $500 million, based on the group's expected market capitalisation of between $1.2 billion and $1.3 billion.
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
