15th Jan 2015 08:08
LONDON (Alliance News) - Shares in Spire Healthcare Group PLC were down in early trade on Thursday after private equity firm Cinven sold a 10% stake in the company at a discount.
Cinvent sold 40.1 million shares in Spire at 315 pence per share, raising a total of GBP126.3 million. Spire shares were down 5.8% to 320.85 pence in early trade, one of the biggest fallers in the FTSE 250.
Following the sale of the shares, Cinven has a remaining 48.3% stake in the company.
Bank of America Merill Lynch, JP Morgan Cazenove, and Morgan Stanley acted as joint bookrunners and placing agents in relation to the offering.
By Sam Unsted; [email protected]; @SamUAtAlliance
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