LONDON (ShareCast) - (ShareCast News) - Marwyn Value Investors has sold its last remaining stake in FTSE 250 film and television distributor Entertainment One and said it will return part of the profits to its shareholders.
London-listed Marwyn sold the 52.9m depository interests representing common shares to Canada Pension Plan Investment Board at a the market price of 269p per share, which will net Marwyn £142.4m.

Roughly £10.0m of this will be returned to shareholders, on top of the £5.3m still to be returned arising from the initial Entertainment One disposal in July 2015.

James Corsellis, Marwyn's managing partner, said: "Entertainment One has been a strongly performing investment for Marwyn, representing a 4.3 times cash multiple since our original investment in 2007."

He highlighted that Canada Pension Plan would be another long term investor.

Last week's first quarter results from Entertainment One disappointed investors as the film distribution arm suffered a weak start to the year, despite the encouraging news that on the back of a surging Peppa Pig its television arm enjoyed a very strong start.

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