GEA tumbles after Groupe Bruxelles Lambert sells stake

GEA AG

21/11/2023 07:44

** Shares in GEA Group  G1AG.DE  slump around 8% in early
Frankfurt trade after a bookrunner said on Monday that Groupe
Bruxelles Lambert SA's unit Oliver Capital was selling 11.25 mln
ordinary shares in the German food-processing equipment maker 
    ** A local trader says Groupe Bruxelles Lambert sold its
complete stake (latest statement was 6.3%) in ABB via BofA and
GS at a price of 32.63 euros
    ** Placement at 32.63 euros per share - represents about 7%
discount to stocks' last closing price of 34.88 euros 
    ** GEA stock's heads for the worst day since March 2020,
hits the bottom of the German mid-cap index  .MDAXI  

 (Reporting by Elizaveta Gladun)
 ((elizaveta.gladun@thomsonreuters.com))