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 an award-winning writer and a senior correspondent for The Sydney Morning Herald and The Age. She was previously deputy editor of Good Weekend and has worked for The AFR and as a foreign correspondent. Connect with Anne on Twitter. Email Anne at ahyland@smh.com.au
