16th Aug 2016 15:06
LONDON (Alliance News) - Wm Morrison Supermarkets PLC on Tuesday said it has sold its 10% stake in Fresh Direct for GBP45 million in cash.
This represents a premium of GBP14 million to the GBP31 million holding value of the equity investment, Morrisons said.
Fresh Direct is a US-based online food retailer.
Shares in Morrisons were trading down 0.5% at 190.10 pence on Tuesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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