Alfa-Group announced today that it has filed documents with the Dutch securities regulator, AFM, which confirms it now holds a cumulative stake in Amtel-Vredestein N. V. (LSE: AMV) of 26.14%. The shares are held both directly and through Amtel-Vredestein’s listing on the London Stock Exchange. Alfa acquired 6 million additional ordinary shares from a company controlled by Amtel-Vredestein founder Sudhir Gupta.
According to Alfa-Bank Head of Asset Management Department Vagan Abgaryan, “We continue to have a very positive outlook for Amtel-Vredestein and expect the value of our investment to grow significantly. We look forward to continuing close cooperation with Mr. Gupta and we also pledge our full support to the company, including its AV-TO distribution and retail subsidiary.”
