Investor offloads eOne stock, shares slide

A key investor in Entertainment One has offloaded almost 10% of the production and distribution group, causing a sharp decline in the company’s share price.

Marwyn Value Investors completed the sale of 26.5 million eOne shares this week at £3.30 (US$5.15) a share, raising £87 million. The volume of shares equates to 9% of the business.

UK-listed eOne’s share price fell from 362p to 331p in the immediate aftermath of the deal.

Marwyn’s James Corsellis is stepping down from the eOne board following the company reducing its shareholding.

Post sale, Marwyn still owns 52.9 million eOne shares, representing 17.9% of the business.

Key eOne TV titles include The Walking Dead, Hell on Wheels and Rookie Blue. In kids and family, it distributes the hugely successful Peppa Pig franchise.