(Alliance News) - Entertainment One Ltd said Wednesday that Capital Group Cos Inc cut its stake in the Peppa Pig brand owner to under 3% following a transaction on Monday amid E1's ongoing takeover by US toy maker Hasbro Inc.
Capital Group held 13.4 million shares in Entertainment One after the transaction, equivalent to a 2.7% stake in the 498.8 million shares outstanding. Prior to the transaction, Capital Group held a 9.9% stake.
In August, Hasbro announced its 560 pence per share cash offer to buy Entertainment One. The deal valued the London-listed firm at GBP3.3 billion.
Shares in Toronto-based Entertainment One were 0.1% lower at 556.50 pence in London on Wednesday.
By Ahren Lester; ahrenlester@alliancenews.com
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