22nd Oct 2015 08:22
LONDON (Alliance News) - Advent International Corp Thursday said that funds which it manages have agreed to sell 32 million shares in DFS Furniture PLC, which are held through Advent Diamond (Luxembourg) Sarl.
The shares will be sold at GBP2.95 each, raising gross proceeds of GBP94.4 million, and represent around 15% of DFS's share capital. Shares in DFS were trading down 1.1% at 301.75 pence Thursday morning.
Settlement of the placing is expected to take place on October 26, following which Advent Diamond will hold 81.4 million shares in DFS, representing 38.2% of its share capital.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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