	renouf sells pct nzi stake to brierley renouf corp ltd said it sold its pct stake in nzi corp ltd to brierley investments ltd bil for mln n z dlrs renouf managing director mike cashin said in a statement it had been renouf s intention to build up a long term strategic position in nzi but it became clear to us that it was in the best interests of both nzi and ourselves for brierley investments to uire our holding he said he said renouf built up its nzi holding over the past six months the sale comprised mln shares at n z dlrs a share and warrants at dlrs each the warrants are attached to a mln swiss franc note issue each bond of francs carries a detachable warrant entitling the bearer to nzi shares in its annual report bil reported that it held a pct stake in nzi nzi has mln ordinary shares on issue total capital including shares attached to warrants is mln shares cashin said the sale will result in a significant profit and places renouf in a good position to consolidate on recent transactions and pursue other opportunities nzi shares were at n z dlrs bil at and renouf at at the close of trading bil executives were unavailable for comment reuter 
