Saad Group, the Saudi Arabian investment company, has sold half its stake in Berkeley, sending shares in the UK housebuilder plunging to their lowest level since last autumn. Saad was seen as a long-term core investor and partner for Berkeley, and formerly held just under 38m shares, about 29% of the total equity. Shares in Berkeley fell 43p to close at 782p. More background here, and on FT Alphaville (see Saad goes on sale).

This entry was posted by Gwen Robinson on Wednesday, June 10th, 2009 at 4:37 and is filed under Capital markets. Tagged with Berkeley, Saad. Edit this entry.