14th Jul 2015 15:47
LONDON (Alliance News) - Marwyn Value Investors LP Tuesday said it intends to sell about 9.0% of Entertainment One Ltd in a placing of shares.
Marwyn is selling depositary interests representing about 26.5 million Entertainment One shares.
Such a sale would leave Marwyn beneficially interested in about 52.9 million common shares, equivalent to a 17.9% stake, in Entertainment One.
Marwyn is selling the stake in an accelerated bookbuild conducted by JP Morgan Cazenove.
N M Rothschild & Sons Ltd is acting as financial adviser to Marwyn on the placing.
James Corsellis, Marwyn's representative on the Entertainment One board since January 2007, will step down when the placing completes.
Entertainment One shares closed up 0.3% at 362.90 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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