15th Jul 2015 06:41
LONDON (Alliance News) - Marwyn Value Investors LP has sold a portion of its stake in FTSE 250-listed media company Entertainment One Ltd for GBP87 million via a share placing.
Marwyn has sold 26.5 million shares in the company at 330 pence per share. Entertainment One shares closed at 362.9 pence on Tuesday.
Following the sale, Marwyn's stake in Entertainment One has been reduced to 52.9 million shares, or 17.9% of the company's issued share capital.
The placing was run by JPMorgan Cazenove as the sole bookrunner, while NM Rothschild & Sons Ltd advised Marwyn on the transaction.
As a result of the stake sale, James Corsellis, who had been Marwyn's representative on Entertainment One's board, has stepped down.
By Sam Unsted; [email protected]; @SamUAtAlliance
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Related Shares:
Entertainment OneMarwyn Val.