3rd Jul 2019 15:59
(Alliance News) - BCA Marketplace PLC said Wednesday that Invesco Ltd has reduced its stake in the company to around 16% from 20%.
In late June, the FTSE 250 car auction operator agreed to the terms of the GBP1.91 billion takeover by BBD Bidco, which is owned indirectly by funds managed by TDR.
BBD is offering 243p in cash for each BCA Marketplace share held, representing a premium of 25% to the closing price on June 19.
Shares in BCA Marketplace were up 1.2% at 246.80 pence on Wednesday.
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