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Goldman Sachs boosts its stake in Kensington

Goldman Sachs upped its stake in Kensington Group to 17% on behalf of one or more of its clients last week.

The London Stock Exchange made a notification of major interest in shares on January 23 which showed that Goldman Sachs bought 17% of ordinary shares worth 10p each. This is an increase of 3.5% from December when Goldman Sachs held a 13.48% stake.

John Maltby, chief executive officer of Kensington, says the purchase does not represent a single stake from a company but reflects Goldman Sachs’ capacity as a stock brokerage. This means it is able to hold money on behalf of its client companies and buy stakes in listed firms.

Last summer, Goldman Sachs was tipped to be scouting potential in the mortgage market, with several high profile figures allegedly head-hunted to build a UK mortgage operation.

Kensington’s annual report for 2005 shows that it has eight substantial shareholders that have 3% or more of the issued share capital in the company. Financial data provider Hemscott lists Kensington as having 13 major shareholders that hold 95.77% of the shares.


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