UK - General Atlantic decreases interest in Xchanging plc
Private equity firm General Atlantic has reduced its stake in its listed portfolio company Xchanging plc, a provider of business processing services, to less than 10%.
The deal saw the firm sell about 15.6 million shares. As on 27 February of this year, General Atlantic held a 17.81% stake or about 39.1 million shares.
Following the sale, Tom Tinsley, a managing director of General Atlantic, resigned from the company as non-executive director.
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