29th Jun 2015 10:04
LONDON (Alliance News) - Residential property owner and manager Grainger PLC on Monday said AIM-listed investment fund Crystal Amber Fund Ltd has acquired a 3.08% stake in the business.
Shares in Grainger were up 3.5% mid-morning on Monday to 231.316 pence, the best performer in the FTSE 250.
Activist investor Crystal Amber said at the end of 2014 that it would be targeting larger investments in the current year and earlier this year acquired a 4% stake in Pinewood Group PLC, the operator of Pinewood Studios. It also recently offloaded its stake in chocolatier Thorntons PLC after the company accepted a GBP112 million takeover bid from Italy's Ferrero.
By Sam Unsted; [email protected]; @SamUAtAlliance
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