Artemis reduces stake in Cobham ahead of expected Bidco deal

12 August 2019

Artemis Investment Management has reported a change in ownership of defence and aerospace company Cobham while continuing to maintain its support for the planned sale of the UK firm to AI Convoy Bidco.

When the announcement was made in July that private equity firm Advent International Corporation's indirect subsidiary Bidco had made a GBP4 billion (USD4.8 billion) bid for Cobham, Artemis owned 122,677,960 shares in Cobham although it has since sold a number and now owns 121,761,285.

This represents a decrease from 5.13% of the holding in Cobham to approximately 5.09%. As its share remains above 5%, Artemis had to report the change on 8 August in accordance with regulatory requirements.

Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at

(135 of 238 words)