Arora family reduce B&M stake after £234m shares sell off completes
SSA Investments, the investment vehicle of the Arora family has completed the sale of a £234m stake in value retailer 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.
Before the sale, SSA Investments had owned directly and indirectly 109.9 million ordinary shares in B&M.
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.
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