4th May 2018 12:30
LONDON (Alliance News) - CityFibre Infrastructure Holdings PLC said Friday Woodford Investment Management Ltd slashed its stake in the firm while Sand Grove Capital Management LLP hiked its stake in separate transactions on Wednesday.
Woodford reduced its stake in CityFibre to 6.9%, or 43.9 million shares, from 19.1%. The same day, Sand Grove built a 12.2%, or 77.0 million share, stake in CityFibre.
The transactions follow CityFibre accepting a GBP537.8 million all-cash takeover offer from an infrastructure investment consortium in late April. The 81.0 pence per share offer represented a 93% premium to the share price prior to the deal's announcement.
CityFibre listed at 60p per share in January 2014, valuing it at the time at GBP31.4 million.
Shares in CityFibre were 0.1% higher at 80.00 pence on Friday.