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LONDON (Alliance News) - Ocado Group PLC Founder and Chief Executive Tim Steiner might be forced to sell part of his multimillion-pound stake in the online grocery delivery company amid a bitter divorce battle, according to a report by the Times.
The Times reported on Monday that Steiner is facing a legal fight with his wife after he moved in with a Polish model who is almost 20 years his junior.
Court documents reveal that Steiner is seeking a divorce on the ground of his wife's "unreasonable behaviour", the Times said, adding that a court battle and expensive settlement could force a sale of part of his 5% stake in Ocado.
http://www.thetimes.co.uk/tto/news/uk/article4717914.ece?acs_cjd=true
According to Morningstar, Steiner is Ocado's fourth largest shareholder with a 4.6% stake.
Shares in Ocado were trading down 2.3% at 290.59 pence on Monday morning, one of the biggest fallers on the FTSE 250.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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