The Goldman Sachs Group, one of Kindred Group’s largest shareholders, has announced a considerable decline in the company’s shares. Kindred Group is a well-known name in the global gaming sector. The massive gaming corporation revealed on Thursday that Goldman Sachs has drastically lowered its ownership position in the business.
Kindred has disclosed modifications to its ownership structure on multiple occasions this year. Significant share transactions involving JPMorgan Chase & Co. and Goldman Sachs were previously disclosed by Kindred. Goldman Sachs had a small 0.22% position in Kindred back in March, but after more deals, that stake grew to 7.99%. The investment bank became a big shareholder in Kindred when it acquired a 5.42% stake by May.
But according to Goldman Sachs’ most recent communication, there has been a significant reversal. The investment bank significantly decreased its interest in Kindred as of August 16 by lowering its holding to a meager 0.16%.
Official Statement from Kindred Group
Kindred Group issued an official statement on August 21 confirming the development. The notification, received from The Goldman Sachs Group, Inc., stated that the firm had significantly reduced its shares and voting rights in Kindred. “Kindred Group plc (Kindred) hereby announces that it, on 21 August 2024, has received a notification of major holding from The Goldman Sachs Group, Inc., a company with its registered office in Wilmington, USA. The notification refers to a decrease in the number of shares and voting rights in Kindred held by The Goldman Sachs Group. According to the notification, the Goldman Sachs Group held 0.16% of the shares and voting rights in Kindred as of 16 August 2024,“ reads the statement from Kindred Group.
The recent move by Goldman Sachs marks a significant shift in the ownership landscape for Kindred, underscoring the dynamic nature of its shareholder base. The impact of this change on Kindred’s future strategic decisions remains to be seen.
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