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Artemis reduces stake in Cobham ahead of expected Bidco deal

12 August 2019
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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.

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