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Oaktree set for partial exit of London-listed drinks company Stock Spirits

14 Apr 2014

Asset management firm Oaktree Capital Management is to partially exit its stake in LSE-listed drinks company Stock Spirits Group, selling 50 million shares.

The company raised £206.5m though its London listing in October, valuing the company at £470m.

The company was previously touted to Diageo in 2011 with a flotation on the Polish stock market also considered.

Stock Spirits has just over a third of the Polish vodka market share, and had adjusted EBITDA of €34.3m for the first half of 2013, up from €28.5m for the same period last year.

The sale amounts to 68 per cent of the firm’s holding in the CEE-focused spirits company, and one quarter of its total shares. The total sale of 73,665,895 shares represents approximately 36.83 per cent of the company’s issued share capital.

Oaktree-appointed director Karim Khairallah has agreed to step down from the board of the xompany with immediate effect.

Distressed debt and credit giant Oaktree Capital Group pulled in $12.5bn of new capital in 2013 to record its seventh-consecutive year raising $10bn or more.

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