Australian fund sells 3.66 lakh United Breweries shares for Rs 5 cr

Platinum Investment Management Ltd, an Australia-based fund manager, today sold 3.66 lakh shares of United Breweries Holding Ltd (UBHL) for around Rs 5 crore.

According to bulk data available on stock exchanges, Platinum Investment Management Ltd, one of the shareholders of UBHL, sold 3.66 lakh shares of the company.

The shares were sold on an average price of Rs 138.48, valuing the deal at Rs 5.06 crore. UBHL is the holding company of the UB Group.

The Australia-based fund manager appears to be on a selling spree. Yesterday, it sold 9.96 lakh shares of UBHL for Rs 13.15 crore.

Besides, Platinum Investment Management had pared its stake in UBHL with the sale of 3.27 per cent holding in the company earlier this week that lowered Australia-based fund manager stake to 5.87 per cent.

Prior to these transactions, the Australia-based fund manager held 9.14 per cent stake in UB Group firm United Breweries Holding.

At the end of June quarter, Platinum Investment Management held 72.13 lakh shares or 10.80 per cent stake in UBHL.

Shares of UBHL today slipped by 0.85 per cent to settle at Rs 134.85 apiece on the BSE.