3rd Jun 2019 13:26
LONDON (Alliance News) - Purplebricks Group PLC on Monday said that Axel Springer SE, a firm associated with Non-Executive Director Andreas Wiele, acquired 43.7 million shares in the company, upping its stake to 26.6%.
Prior to the transaction, valued GBP43.7 million, Axel Springer held a 12.4% interest in the online estate agent.
Back in October, Purplebricks partnered with Axel Springer to jointly take a stake in German online estate agent Homeday via a new joint venture called NewCo.
Meanwhile, co-founder & former chief executive Michael Bruce and his wife Isabel Bruce, in a deal completed on Sunday, sold their entire holding in the company. Prior to the sale, the pair held a 11.02% interest.
Bruce stepped down from the company's board in May after a "disappointing" year for the firm.
Purplebricks shares were trading down 3.1% at 100.80 pence each on Monday afternoon.
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