Floorcoverings and tiles manufacturer Victoria (LON: VCP) is getting rid of a share overhang and bringing in a new investor that is injecting cash into the company so it can make more acquisitions in the European floorcoverings sector.
Invesco owns nearly 20% of Victoria, but this stake has been an overhang for more than one year. New investor Koch Equity Development will buy just below 10% of Victoria from Invesco at 350p a share – the level at which the shares were trading when the deal was agreed. Spruce House Partnership will buy a 2.87% stake from Invesco and the rest of the stake will...
