£20m sale of Liontrust stake

The fund platform Alliance Trust has sold its entire 8 per cent stake stake in Liontrust. The 8 per cent stake is a result of Liontrust’s purchase of Alliance’s fund management arm, Alliance Trust Investments, in early 2017. Now that the lock-in period has expired, Alliance has concluded their initial exit from Liontrust, although they will be receiving a further one million Liontrust shares this April, with a following lock-in period of one year.
The sale of the 8 per cent stake went for £21.1 million; Alliance Trust stated that this was a 55 per cent net gain.