27th Apr 2016 07:23
LONDON (Alliance News) - Investors in retirement housebuilder McCarthy & Stone PLC have sold 85.0 million shares in the company, increased from the 75.0 million they had initially planned to sell.
Funds managed by Anchorage Capital LLC, TPG Special Situations Partners, Goldman Sachs European Special Situations Group and Strategic Value Partners LLC sold an aggregate 85.0 million shares, or around 16%, of the company for 235.00 pence per share.
Shares in the company were down 6.7% to 233.9p early Wednesday, one of the worst performers in the FTSE 250.
The gross proceeds from the sale to the selling investors were around GBP200.0 million.
Following the sale, Anchorage holds a 7.6% stake, TPG a 3.9% stake, Goldman Sachs a 3.9% stake and Strategic Value Partners a 4.2% stake.
The sale had been flagged by bookrunner Deutsche Bank AG on Tuesday after the close, but the original plan had been to sell 75.0 million shares.
By Sam Unsted; [email protected]; @SamUAtAlliance
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