Defending insider charge, Joe Lewis lifts his holdings in AACo

Liam WalshReporter

Sep 11, 2023 – 12.30pm

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Key Points

Billionaire Joe Lewis has rejected charges of insider trading.
His investment vehicle owns more than half of beef giant AACo.
It has increased its holding in the period since the charges were filed.

British billionaire Joe Lewis has increased his holding in Australian beef giant AACo, despite being accused of passing on secret information about the company in an insider-trading charge.

The lift in the AACo holding from 51.09 per cent to 52.09 per cent came via a series of acquisitions made before and after Mr Lewis was indicted in the US in July.