Unite Group's top shareholder halves stake to 7%

Unite

23/06/2026 07:48

    June 23 (Reuters) - Britain's largest student housing provider Unite Group UTG.L said on Tuesday that CPP Investment Board (CPPIB), the company's largest shareholder and an activist investor, has reduced its stake to 7% from 14.08%.
Here are some details:
Following the reduction, CPPIB will become Unite's second-largest shareholder, behind Norges Bank Investment Management, according to LSEG data.
Thomas Jackson, CPPIB's nominated director, will step down as non-executive director with immediate effect following the stake reduction.
The shareholding drop below 10% removes CPPIB's right to appoint a board representative under a relationship agreement established when Unite acquired Liberty Living from CPPIB in 2019.
Jackson said CPPIB "values its constructive relationship with Unite and remains supportive of its strategic priorities" despite the reduced stake.
Unite Group in April said it was exploring options to speed up asset sales to focus on accommodations yielding higher returns.

 (Reporting by Nithyashree R B in Bengaluru; Editing by Eileen Soreng)
 ((NithyashreeRB@thomsonreuters.com))