November 11, 2019 / 5:15 PM / 25 days ago

Investment firm Jacobs Holding cuts stake in Barry Callebaut

ZURICH (Reuters) - Jacobs Holding is selling a 2.85% stake in Barry Callebaut AG (BARN.S) in a private placement to Ontario Teachers’ Pension Plan and launching an accelerated bookbuilding process for a stake of another 7.17%, it said on Monday.

Jacobs Holding, an investment company founded by the late entrepreneur Klaus J. Jacobs, said the sale would diversify its portfolio while it would remain the main shareholder in Barry Callebaut with a stake of 40.08% which it did not intend to reduce further.

A bookrunner said separately the price range for the placement was 1,910-1,940 Swiss francs ($1,916-$1,946). The stock closed at 2,086 francs.

Reporting by Michael Shields; Editing by Edmund Blair

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