UK billionaire Joe Lewis pleads guilty to insider trader charges in NY.
His investment vehicle Tavistock owns 52 per cent of Australian beef giant AACo.
Experts think unlikely Tavistock would lose approval for holding over AACo.
British billionaire Joe Lewis has pleaded guilty to insider trading charges that dragged in dealings with shares in Australia’s AACo, but his ownership of half the beef giant is seemingly off-limits from retribution.
The billionaire, who put up his 98-metre super yacht Aviva as part of a bail bond, could potentially face additional scrutiny in a foreign-investment character test if his main investment vehicle tried acquiring more AACo shares than the 52.09 per cent stake it currently owns.
Loading...
Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
