9th Feb 2017 16:50
LONDON (Alliance News) - Berenberg on Thursday said private equity group Advent International Corp is to sell its remaining stake in sofa retailer DFS Furniture PLC via a placing.
Advent will sell 25.7 million shares, or a 12.1% stake in the company, via an accelerated bookbuild, run by Berenberg.
DFS shares closed up 0.9% at 231.00 pence on Thursday. At that price, the Advent sale would be worth GBP59.4 million.
Earlier on Thursday, DFS said its sales rose year-on-year in the first half of its financial year, and it remains on track for the full year, adding it will pay a special dividend with its half-year results.
By Sam Unsted; [email protected]; @SamUAtAlliance
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