News && Media

Stokes' ownership stake will jump to 68% in the combined entity, which is to be renamed Seven Group Holdings Ltd. He currently owns 48% of Seven Networks after selling the majority of his media assets to the private equity group Kohlberg Kravis Roberts in 2006. The transaction substantially repositions Seven from an investment holding company to part of a diversified operating group owning market leading businesses with attractive growth outlooks," Seven Network said in a statement. Seven Network's media interests include various stakes in television, magazines and newspaper assets, whereas WesTrac sells Caterpillarconstruction and mining equipment in Australia and northeast China.