14th Jan 2022 08:01
(Alliance News) - SSA Investments confirmed Friday that it sold a 4% stake in B&M European Value Retail SA.
Goldman Sachs International was sole bookrunner for the placing of 40 million shares at 585 pence each, raising gross sales proceeds of GBP234 million.
SSA owned 109.9 million shares in Luxembourg-based B&M, or an 11% stake. Following the sale, SSA will now own about 7% of B&M.
SSA is the investment vehicle of the Arora family. Simon Arora is B&M's chief executive. The intention to sell the shares was first announced after the London market close on Thursday.
By Heather Rydings; [email protected]
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