B&M European Value slumps as SSA Investments sells 40m shares
By Michele Maatouk
Date: Friday 14 Jan 2022
(Sharecast News) - Discount retailer B&M European Value Retail was under the cosh on Friday after SSA Investments sold 40m shares in the company - a 4% stake - in a placing.
The shares were sold at 585p each, raising gross proceeds of £234m.
Following settlement of the placing, which is expected to take place on 18 January, SSA will hold a stake of around 7% in B&M.
Goldman Sachs acted as sole bookrunner in connection with the placing.
Luxembourg-based SSA Investments is controlled by brothers Simon and Bobby Arora, B&M's chief executive and trading director, respectively.
At 0805 GMT, the shares were down 3.6% at 575.20p.
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