11th Jan 2021 17:50
(Alliance News) -Â SSA Investments Sarl intends to sell a 4.0% stake in B&M European Value Retail SA, Merrill Lynch International said on Monday.
SSA, the Arora family investment vehicle, plans to sell around 40 million shares in B&M via an accelerated bookbuild, which will commence on Monday. Following the sale, SSA will own 109.9 million shares in B&M, representing an 11% stake.
Merrill Lynch International is acting as global coordinator in connection with the placing and NM Rothschild & Sons Ltd is acting as the sole financial adviser to SSA.
The results of the placing - including the number of placing shares to be sold and the price - will be announced "as soon as practicable" after the closing of the bookbuild.
B&M will not receive any proceeds from the placing.
Shares in B&M closed up 1.0% at 549.80 pence in London on Monday.
By Lucy Heming;Â [email protected]
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