Avast Dips As Sybil Holdings Sells Off GBP270 Million Of Shares (ALLISS)

LONDON (Alliance News) - Sybil Holdings SARL has nearly halved its stake in FTSE 250-listed ...

Alliance News 27 March, 2019 | 9:06AM
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LONDON (Alliance News) - Sybil Holdings SARL has nearly halved its stake in FTSE 250-listed cybersecurity firm Avast PLC, UBS AG said on Wednesday.

Sybil has sold 95.4 million Avast shares, worth 10% of the company, at 284 pence each, netting it GBP271 million. It now holds a stake just under 13%.

Avast will not get any proceeds from the sale, after which Sybil has agreed not to sell any more shares for 90 days.

Sybil is owned by funds advised by affiliates of CVC Capital Partners Advisory Co Luxembourg SARL.

UBS acted as sole bookrunner for the share sale. Avast shares were down 5.4% on Wednesday morning at 280.80p each.

By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Avast PLC 339.60 GBX 0.77 -
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