NSL transfers investment

Business

NAMBAWAN Super Limited’s (NSL) 34 per cent stake in Brian Bell is being sold, according to chief executive office Garry Tunstall.
“The board of trustees of NSL has made the decision to sell this investment and place the funds elsewhere,” Tunstall told The National yesterday.
NSL’s client BSP Capital put out the sales notice in the media this week.
“BSP Capital on behalf of its client Nambawan Super Limited is seeking expression of interest in respect to the sale of a 34 per cent stake in Brian Bell and Company Ltd,” the notice states.
“Established in 1958 Brian Bell and Company Ltd, PNG’s premier retailer, wholesaler and distributer of non-food and clothing product.
“The company’s principal activities are the retail and wholesale of appliances and furniture, electrical equipment and servicing and chemicals for industrial, agricultural and domestic applications.
“Brian Bell and Company Ltd has exclusive distribution networks throughout Papua New Guinea and is a household name throughout the country.”
Nambawan Super Limited is the corporate trustee of the Public Officers Superannuation Fund, an authorised superannuation fund, operating as an accumulation fund.
The Fund is governed by nine independent board of directors, seven of whom are resident directors.

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