GPG came under the control of Brierley Investments Limited in 1990. Following this the Group was restructured and all of its then existing businesses sold.

GPG’s shares were listed on the NZSE in 1991, on the London Stock Exchange in 1992, and the Australian Stock Exchange in 1993. In August 1995 Brierley Investments Limited sold down its remaining shareholding in GPG and ceased to have any further involvement.

Tyndall Australia Limited
In 1990 and early 1991, GPG accumulated a strategic stake in Tyndall Australia Limited. Approval in late 1991 by Tyndall’s shareholders of a capital reconstruction resulted in GPG owning just over 50% of Tyndall. This stake in Tyndall formed the initial cornerstone of the GPG investment portfolio. Tyndall was sold in 1999 in a transaction which valued it at £145.9 million.

Brunel Holdings plc
With effect from 13 December 2002, Brunel Holdings plc became the legal parent of GPG (UK) Holdings plc, then named Guinness Peat Group plc, and its subsidiary undertakings, in a share-for-share transaction. Owing to the relative values of the companies, the former Guinness Peat Group plc shareholders held over 98% of the enlarged group. The Group’s continuing operations and executive management are those of the former Guinness Peat Group plc. The substance of the combination was therefore that the former Guinness Peat Group plc acquired Brunel Holdings plc. On the date of the combination, Guinness Peat Group plc changed its name to GPG (UK) Holdings plc and immediately afterwards Brunel Holdings plc changed its name to Guinness Peat Group plc and changed its year end to 31 December from 30 June.