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Rank’s SIG stake boosted to a third

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Rank Group now owns a third of Swiss drinks carton manufacturer SIG Holding, signalling that New Zealand businessman Graeme Harts company aims to complete its takeover as quickly as possible.

Rank’s current offer of £183 (435CHF) per share closes on 29 March, and the company hopes to complete the transaction by the end of April.

SIG has not yet commented on the offer, which values the company at £1.17bn, although it is due to make a statement by 21 March.

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