8th Apr 2016 14:40
LONDON (Alliance News) - Towerbrook Capital Partners LP on Friday said it has sold a 20% stake in Volution Group, or 40 million shares, at 165 pence per share for gross proceeds of GBP66 million via Windmill Holdings BC.
Shares in Volution were trading up 3.0% at 172.00 pence Friday afternoon.
The placing was oversubscribed, and was larger than the 35 million shares, or 17.5% stake Towerbrook originally said it intended to sell earlier Friday.
Following the completion of the placing, Windmill's remaining stake in the company is 44.8 million shares, or a 22% stake.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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Related Shares:
Volution Group PLS