25th May 2016 12:54
LONDON (Alliance News) - Coca Cola HBC AG said Wednesday two of its non-executive directors followed private equity vehicle New Argen Ltd by selling around GBP15.4 million worth of stock on Tuesday.
Christo Leventis sold 735,968 shares at 1,315 pence each in a deal worth about GBP9.7 million before expenses. The sale decreases his shareholding to 498,545 shares, equal to a 0.14% stake.
Anastasios Leventis sold 436,129 shares at the same price, with the deal valued at around GBP5.7 million gross. The sale leaves him with 386,879 shares, or a 0.11% stake. He served as Vice-Chairman of the company from October, 2000 to April, 2013
Credit Suisse Securities (Europe) Ltd on Tuesday said it placed 5.4 million shares in London-listed bottler Coca-Cola HBC AG on behalf of New Argen Holdings Ltd at GBP13.15 each, raising GBP71 million.
New Argen Holdings is a private investment vehicle which was established for the benefit of certain members the Leventis family, according to a London Stock Exchange filing.
The placing was initially announced on Monday by Credit Suisse, which acted as sole global coordinator and bookrunner.
Following completion, New Argen continues to hold 4.5 million shares in Coca-Cola HBC, representing 1.2% of its issued share capital.
The company's founder AG Leventis established the group as the Nigerian Bottling Company in 1951 which later became the Hellenic Bottling Company SA after being incorporated in Greece in 1969.
Then in 2000 the Hellenic Bottling Company acquired Coca-Cola Beverages Ltd giving birth to what the company is today.
Shares in the FTSE 100 drinks bottling company were down 0.2% at 1,321.00p Wednesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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