By Phil Boeyen, ShareChat Business News Editor
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Monday 6th May 2002 |
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14 million Restaurant Brands shares changed hands before the market opened on Monday and AMP notified later in the day that it had sold down its stake from 18.78% to 10%.
The shares were traded at $2.02 per share, a discount to the stock's recent trading range between $2.10 and $2.20 a share.
Reuters reported that the shares had been sold to five unnamed institutions and that AMP Henderson was not planning a further sell down.
The fund manager bought its holding in October 2000 via a market stand at $1.25 per share.
Monday's sale price gives a profit of around 60% on the acquisition price.
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