On Tuesday, global investment firm Kohlberg Kravis Roberts & Co (KKR) sold 61m shares in Pets at Home. The shares were worth £119m in total, reported The Financial Times.
The amount represented just under half of KKR’s stake in the business. Pets at Home closed for the day having dropped 7.7 percent in London trading.
KKR continues to hold approximately 62m shares in the pet retailer, equal to a 12.4 percent stake. The remaining shares will be subject to a 60-day lock-up period.