UK: Oaktree Capital Management sells Stock Spirits stake

Stock Spirits' largest shareholder, Oaktree Capital Management, has sold its entire 36.8% stake in the group. 

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Oaktree, a US private equity group that set up the spirits group after buying Polish distiller Polmos Lublin in 2006 and Stock Plzen in Czech a year later, has exited the business by placing its 73,665,895 ordinary shares to investors, it was announced today (8 April). 

Karim Khairallah, a Stock Spirits director appointed by Oaktree, has agreed to step down from the board of the drinks group with immediate effect as a result of the move.

Off the back of the news, shares in Stock Spirts, which operates mainly in Poland and Czech, are currently trading down 12.11% at GBP2.70 in London today. 

The company last month reported a healthy rise in full-year sales, but profits were hit by costs from an IPO launched last year.  

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