B&M shareholders Arora family sell £218m stake

SSA Investments, the Arora family investment vehicle, announced it has sold about 40 million of its shares in Liverpool-based B&M European Value Retail for £218 million.

B&M is based in Liverpool and registered in Luxembourg — but its shares trade in London, where its stock has risen about 60% in the past 12 months to give the firm a current stock market value of around £5.5 billion.

A stock exchange statement said: “SSA Investments announces that it has sold an aggregate of 40 million ordinary shares in B&M, representing approximately 4.0% of B&M’s issued ordinary share capital, at a price of 545 pence per share … raising aggregate gross sale proceeds of £218 million.

Following settlement of the placing, which is expected to take place on 14 January 2021, SSA Investments’ holding will have reduced from 14.98% and it will therefore continue to hold 10.98% of B&M’s ordinary shares.

Merrill Lynch International (BofA Securities) acted as Global Coordinator in connection with the Placing. N. M. Rothschild & Sons Limited (Rothschild & Co) has acted as the sole Financial Adviser to SSA Investments.”


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