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LONDON - Barclays PLC (LON:BARC) has reduced its stake in B&M European Value Retail S.A. to below the minimum notification threshold, according to a regulatory filing released Tuesday.
The British bank’s holdings fell below the reporting requirement as of July 15, the company disclosed in a standard form for notification of major shareholdings. The transaction was reported to the issuer on July 18.
Prior to the reduction, Barclays held 7.09% of B&M, consisting of 2.72% in voting rights attached to shares and 4.37% through financial instruments.
The regulatory filing indicates that Barclays’ interest in the Luxembourg-registered value retailer is now held through several controlled entities, including Barclays Bank PLC, Barclays Capital Securities Limited, and Barclays Capital Luxembourg S.À R.L.
The notification also states that the trading book exemption applies to this transaction.
B&M European Value Retail operates a chain of discount stores across the United Kingdom (TADAWUL:4280) and France. The company is listed on the London Stock Exchange (LON:LSEG).
The information was disclosed in a regulatory news service filing published by the London Stock Exchange.
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