The John Lewis Partnership Pensions Trust has sold its remaining stake in online grocer Ocado.
Want to know more about Ocado?
For detailed data and analysis of Ocado visit Retail Week Knowledge Bank now
The trust sold part of its holding when Ocado floated last July but retained a stake of 10% in the etailer, which it has now offloaded.
Ocado said that the sale would have no impact on its commercial arrangements with John Lewis-owned grocer Waitrose, whose products the etailer sells. Last May Ocado struck a new 10-year supply arrangement with Waitrose.
Jefferies analyst James Grzinic said: “We do not see any operational significance form today’s development.
“We do note, however, the extent to which Ocado’s equity had recently benefited from a favourable supply and demand imbalance. We believe today’s placing is likely to address that technical situation.”
No comments yet