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Troubled fund manager Neil Woodford's Woodford Investment Management Ltd. has sold its 12% stake in real estate investor Raven Property Group Ltd.
Raven Property Group said July 1 that it bought 72,144,978 of its own ordinary shares from Woodford at 36 pence per share and a further 17 million ordinary shares and not more than 34,085,396 ordinary shares from Invesco Asset Management Ltd. The total shares represent roughly 17.7% of Raven's current issued share capital, and the company intends to cancel a minimum of 89,144,978 ordinary shares acquired on...