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Sunday, 22 November 2009 02:47 UAE time

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Saudi Saad sells more shares in UK's Berkeley

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Friday, 26 June 2009
MONEY MATTERS: Saad was the largest investor in the housebuilder. (Getty Images)
MONEY MATTERS: Saad was the largest investor in the housebuilder. (Getty Images)

Saudi Arabian investor Saad Group has sold a further 4.5 million shares in British housebuilder Berkeley Group, taking its stake to just 2.73 percent, according to a London stock exchange filing.

The filing showed privately held Saad, which ran into difficulties in June and is trying to restructure $6bn in debts now owns 3.56 million shares in Berkeley.

The price at which the shares were sold was not given. At Thursday's closing price of 805.5 pence, the stake sold would have been worth 36.2 million pounds ($58.8m).


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Saad was the largest investor in the housebuilder, holding a stake of almost 29 percent at the end of April, before it started selling off its investment this month. ($1 = 0.6153 pound) (Reuters)

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