Seven sells stake in Estia for 40% loss
Seven Group, until last week Estia’s largest shareholder, has sold its 10% equity stake in the aged care provider. Seven held the shares for six years, acquiring the bulk of their investment in 2016 for $3.24 per share. Last week, seven sold the...
Seven Group, until last week Estia’s largest shareholder, has sold its 10% equity stake in the aged care provider. Seven held the shares for six years, acquiring the bulk of their investment in 2016 for $3.24 per share. Last week, seven sold the shares for around $55 million or $2 per share. While it may seem Seven was cutting its losses, making around a 40% loss on the investment, five to seven years is not an uncommon investment time frame. The AFR has reported that fund managers acquired the shares. Will Estia prove a better investment this time?
