5th Sep 2014 08:47
LONDON (Alliance News) - BC Partners has sold a 7% stake in estate agency chain Foxtons PLC, cutting its holding in the company by half, the Financial Times reported Friday.
BC bought the London-based agency in 2007 and took the company public in September last year, the FT said.
The share sale is the second post-IPO reduction in the private equity house's stake in Foxtons, after it sold an 8% stake in the company back in May. BC is in the process of scaling down its involvement in the company, with its nominee to the board, Stefano Quadrio Curzio, due to leave later this month.
The shares were sold at 232 pence.
Shares in the company were down 2.66% to 234.2 pence on Friday, making it the biggest faller on the FTSE 250.
http://on.ft.com/1BfuvDQ
By Sam Unsted; [email protected]; @SamUAtAlliance
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