BMW block breaks silence, but no great splurge expected

By Olivier Holmey
23 Oct 2014

An institutional investor in German car manufacturer BMW sold €198m of preferred shares on Monday night, but the deal was unlikely to inspire other block trades, bankers said, as the equity markets remain highly volatile.

Bestinver Gestion sold 3.3m of its 4.8m preferred shares — 6% of the company’s preferred stock and 0.5% of the total share capital — for €60 each.

Sole bookrunner UBS launched the transaction at 4.35pm UK time, shortly after the close in Frankfurt, where BMW is listed. ...

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