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Goldman Sachs takes 17% stake in Kensington

Goldman Sachs has snapped up a 17% stake in Kensington Group on behalf of one or more of its clients.

The London Stock Exchange made a notification of major interest in shares on January 23, which showed that Goldman Sachs purchased 17% of ordinary shares worth 10p each.

However, John Maltby, chief executive officer of Kensington Group, says the purchase doesn’t represent a single stake in the company from one company, but will reflect Goldman Sachs’s capacity as a stock brokerage. This means that it is able to hold money on behalf of its client companies and buy stakes in listed firms.

Kensington’s Annual report 2005 shows that it has eight substantial shareholders that have 3% or more of the issued share capital in the company.

Hurley Partners is listed as having 12.53%, BGI has 5.89%, Neuberger & Berman has 4.71%, JP Morgan Asset Management has 5.09%, Columbia Wanger Asset Management has 4.89%, MILM has 3.77%, Morley Fund Management has 3.31% and Pendragon Capital Management has 3%.

Kensington Group has a total of 13 major shareholders. Together they account for 95.77% of the total shares in issue.

Goldman Sachs’s stake in the Group represents nearly a fifth of the company.


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