Marley Spoon slides most since July after Woolworths dumps stake

Marley Spoon SE

07/09/2021 02:10

** Marley Spoon Ag  MMM.AX  slides 8.6% to A$1.855, its
sharpest fall since July 30 
    ** The drop comes after Woolworths  WOW.AX  sold https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02418263-2A1321782?access_token=83ff96335c2d45a094df02a206a39ff4
 a near 10% stake in the subscription-based meal-kit provider 
    ** WOW sold 28 mln Marley shares at A$1.91 a share, a 6%
discount to its last close, in a block trade handled by Jarden
on Monday
    ** The trade was worth more than A$53 mln ($39.50 mln)
    ** In 2019, WOW invested around A$30 mln in the Berlin-based
firm through shares issued and convertible notes
    ** WOW says it remains committed to the 5-year strategic
alliance with Marley     
    ** Marley down 24.81% so far this year, as of last close 
    ** WOW last down 0.3% in line with the broader market
 .AXJO  

($1 = 1.3417 Australian dollars)

 (Reporting by Dhriti Garg and Nikhil Kurian Nainan in
Bengaluru)
 ((Dhriti.Garg@thomsonreuters.com))