Great Elm Group rises on Forest stake sale

Great Elm

03/01/2023 17:27

** Shares of investment manager Great Elm Group  GEG.O  up
7.4% at $2.17 in afternoon trade
    ** Earlier in the session, stock touched highest since Sept
19 
    ** Co sells 61% of direct and indirect stake in Forest
Investment Associates to a unit of JPMorgan Chase & Co  JPM.N 
for $18 mln in cash
    **  Forest is an investment adviser for those looking to put
money into timberland
    ** JPM now owns 81% of Forest
    ** GEG stock declined 3.3% in 2022
 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))