Perpetual Investment Management is understood to have boosted its shareholding in the Star Entertainment Group buying some of the 5.62 per cent stake that Malaysian casino giant Genting sold this past week.
In February, Perpetual owned 11.6 per cent of Star and has regulatory approval to go to 15 per cent. An individual or company's shareholding in the Star can't exceed 10 per cent without the approval of the New South Wales and Queensland's Liquor and Gaming regulators.
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Anne Hyland is the Financial Review’s Companies Editor. She’s a former deputy editor of Good Weekend and Asia correspondent for The AFR. Email Anne at ahyland@afr.com
