2nd Apr 2015 16:22
LONDON (Alliance News) - Fevertree Drinks PLC Thursday said that the private equity arm of Lloyds Banking Group PLC has sold a 5.17% stake in the drinks mixers company.
According to Fevertree, which supplies mixers for alcoholic spirits, Lloyds Development Capital sold about 6.0 million shares in the company on Thursday, leaving the investor with about 5.17% of the company.
LDC, which first invested in Fevertree in March 2013, sold shares in Fevertree's initial public offering in November 2014, when the company listed on AIM with a GBP154.4 million market capitalisation.
The private equity team at Lloyds is unable to sell any more of its stake until July 1, under a so-called lock-in arrangement.
Fevertree shares closed down 8.6% at 235.00 pence on Thursday, giving it a market capitalisation of GBP270.8 million.
By Samuel Agini; [email protected]; @samuelagini
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