Lord Moyne's acquisition of majority of votes in Amer Group cancelled
In the beginning of June 1997 Castren & Snellman reported that Jonathan Bryan Guinness (Lord Moyne) had acquired the majority of the votes in Amer Group Ltd, a listed Finnish multi-branch firm, from four organisations mainly representing past and present students of the Helsinki School of Economics and Business Administration and the Helsinki University of Technology. However, on June 20, the sellers cancelled the agreement concerning the sale of the K shares (shares with voting power) due to problems with bank guarantees.
On June 26, the company announced that three of the total four owners of K shares would not restart negotiations concerning the sale. The fourth owner, the Student Union of the Helsinki School of Economics and Business Administration, announced that it intended to sell the majority of its K shares to Lord Moyne. On July 1, it was announced that Lord Moyne had agreed to acquire these shares.
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