UPDATE: Montefiore sells GBP53 million stake in ME Group International
28th Feb 2025 11:53
ME Group International PLC - Birmingham, England-based instant-service equipment company - FPCI Montefiore Investment IV, an entity managed by Montefiore Investment SAS, sells a 7.0% stake in ME Group, slightly more than the 5% initially planned. The sale of 26.5 million shares at 200 pence each, worth GBP53.0 million, is conducted by investment bank Joh Berenberg, Gossler & Co KG in a placing to institutional investors. The disposal, first announced after the London market close on Thursday, leaves Montefiore with 18.9 million ME Group shares, a 5.0% stake, which are subject to a 45-day lock-up. The sale is of existing shares, so ME Group will not receive any of the proceeds. Read More