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| | Brierley cuts Air NZ ties after 15 years - www.theage.com.au |
 | | The ownership of a large chunk of Air New Zealand was under a cloud yesterday after the airline's second-largest shareholder, BIL International, put a 7.8 per cent stake in the trans-Tasman carrier up for sale. |
 | | The listed investment company, formerly known as Brierley Investments, will effectively end its 15-year association with Air NZ through the deal, under which it will offer its $NZ111.7 million ($A96 million) stake to institutional and retail investors via an "accelerated book-build offering", or share auction, conducted by Goldman Sachs JBWere. |
 | | BIL's investments include London's largest hotel operator, Thistle, and 26,000 hectares on the Hawaiian island of Molokai. |
| www.theage.com.au /articles/2004/01/28/1075088092737.html?from=storyrhs (394 words) |
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