Bruce Mathieson snr says opting out of the last Star capital raising was not influenced by a margin loan against his Endeavour stake, which has fallen in value.
Pubs billionaire Bruce Mathieson snr says a margin loan against his 15 per cent stake in Endeavour Group has not constrained his family’s capacity to do other deals, including buying more shares in The Star Entertainment Group.
But three sources with knowledge of the matter, who were unauthorised to speak publicly, said the Mathieson Group took out a margin loan of more than $100 million in December as the family prepared to build its Star stake.On December 22, Endeavour published its updated trading policy to include a new clearance process, “for certain persons covered under the policy to request permission to use Endeavour securities as collateral”.
By March, he had a 9.97 per cent stake in Star for $141.7 million and indicated he would be an investor for the next three decades. He did not, however, take partBut he still has major sway in the future of the troubled casino group.had formally asked the NSW casino regulator for permission to increase his stake in Star Entertainment
Endeavour chief executive Steve Donohue on Wednesday urged the group’s 30,000 staff to not be distracted by the board stoush. Mr Donohue said he wanted to “correct some of the selective and incomplete” information being aired by the elder Mr Mathieson.
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