Liontrust Asset Management's majority shareholder has sold two-thirds of its stake in the business....
Liontrust Asset Management's majority shareholder has sold two-thirds of its stake in the business. Pacific Investments' subsidiary River & Mercantile Management, together with Mark Johnson, a non-executive of Liontrust and a director of Pacific and persons connected to him and John Beckwith, sold £8m worth of ordinary shares on 1 March. As a result, the selling shareholders' 39.7% stake in Liontrust has been reduced to 15%. The shares were purchased by the directors of Liontrust and persons connected to them. Nigel Legge, the joint chief executive of Liontrust, said: "This is very pos...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes