Lone Star increases block trade and exits Forterra
Lone Star Funds, the US private equity group, has achieved a full exit from Forterra, the UK brick maker, after an accelerated bookbuild led by Numis Securities and Peel Hunt on Thursday night which was increased due to strong demand.
The block initially consisted of up to 70m shares, a 33% stake, and was covered before launch as a result of a wall-crossing exercise within the initial range of 190p to 195p.
Launched shortly after the market close in London, the deal got covered quickly.
At 6.30pm the
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