22nd Sep 2015 07:49
LONDON (Alliance News) - Marwyn Value Investors LP on Tuesday said the sale of its stake in media company Entertainment One Ltd has been completed, and it confirmed the amount that it will return to shareholders as a result.
Marwyn last week struck a deal to sell its 18% stake in Entertainment One for GBP142.4 million, raising GBP103.4 million for the investor. It has sold the stake to Canada Pension Plan Investment Board.
Marwyn said Tuesday it will return GBP15.3 million, or 24.6 pence per share, to its investors following the disposal, with the remaining funds to be used to support further investments in its existing portfolio and the launch of new acquisition companies.
Shares in Marwyn were up 0.5% to 221.00 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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