Guinness Peat Group has received approval of its share cancellation scheme from the High Court in Britain, which allows the investment concern to return $158 million in capital to investors.
This will see the company cancel about 228 million shares in return for a payment of 35 pence for every cancelled share to shareholders.
Shareholders voted in favour of the capital return at its annual meeting last month.
GPG is in the process of selling its $1.3 billion portfolio, apart from threadmaker Coats.