LONDON, UK: SSA Investments, the Arora family investment vehicle, announced to sell approximately 40 million ordinary shares constituting 4.0 per cent shares in B&M European Value Retail (B&M Stores) by way of an accelerated bookbuild to institutional investors.
The seller currently owns directly and indirectly 109.9 million ordinary shares representing approximately 11% of B&M’s issued share capital.
Following the completion of the placing (assuming all placing shares are sold), SSA Investments will own 69.9 million shares in B&M, representing approximately 7.0% of B&M’s issued share capital.
Goldman Sachs International is acting as sole bookrunner in connection with the Placing. N. M. Rothschild & Sons Limited is acting as the sole financial adviser to the seller on the placing.
The price per Share will be determined by way of an accelerated bookbuilding process to institutional investors. The bookbuilding period commenced January 13, 2022.
SSA Investments has undertaken that, without the prior written consent of the Bookrunner and subject to certain customary exceptions, it will not dispose of any further B&M Stores shares for a period of 180 days following completion of the placing.
B&M is a British variety store chain founded in 1978 and incorporated in Luxembourg. It employs over 32,000 people. It is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index.