24th Aug 2015 08:43
LONDON (Alliance News) - Sanne Group PLC on Monday said Inflexion Private Equity has sold its entire remaining shareholding in the company.
Sanne, which provides outsourced corporate and fund administration, said Inflexion has sold 12.9 million shares, or an 11.1% stake in the company, for 260 pence per share.
In addition to the Inflexion sale, former managers Peter Machon and Simon Young both also sold chunks of shares. Machon sold 3.4 million shares, while Young sold 1.5 million. Machon still holds 50,000 shares in Sanne, while Young has sold his entire stake. They also sold their shares for 260 pence per share.
The total 17.8 million shares sold represent a 15% stake in the company.
Sanne shares were down 1.7% to 268.25 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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