Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Business
Jon Robinson

Arora family reduce B&M stake after £234m shares sell off completes

The Arora family's investment vehicle has completed the sale of a £234m stake in discount retail giant B&M.

SSA Investments has disposed of 40 million shares in the company, bringing its holdings down from almost 11% to just under 7%.

The seller, which is controlled by Simon and Bobby Arora, B&M's CEO and trading director respectively, first announced the move last week.

READ MORE: Controversial £100m plan for hundreds of flats at Liverpool waterfront unanimously rejected

Before the sale, SSA Investments had owned directly and indirectly 109.9 million ordinary shares in B&M.

Goldman Sachs International acted as sole bookrunner in connection with the placing.

N. M. Rothschild & Sons Limited acted as the sole financial adviser to the seller on the placing.

It was confirmed last week that B&M would not receive any proceeds from the placing.

Some of B&M's largest institutional investors include Capital Research & Management Co, Wellington Management Co and Fidelity Management & Research Co.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.