ME Group shareholder Montefiore offloads entire 3% stake

(Sharecast News) - One of ME Group's shareholders has sold a 3.3% stake in the vending machine and self-service laundry company, priced at a significant discount to the prevailing share price. Paris-based private equity firm Montefiore Investment has offloaded its entire position of 12.52m shares, equal to a 3.3% stake.

"As a result of the transaction, Montefiore no longer holds an interest in the company," ME Group said in a statement.

The secondary placing, which was flagged on Tuesday, was priced at 132p per share, compared with the previous day's closing price of 142.6p

The stock, which had already dropped more than 10% over the past month from the 160p level in mid-December, was down a further 6.8% at 132.89p by 0857 GMT.