Deals
A Mystery Investor Sold Playtech Stake Before Profit Warning
- Goldman Sachs sold $160 million stake for U.S. hedge fund
- Sale happened two weeks before shares tanked on warning
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An unidentified investor sold a stake worth approximately $160 million in Playtech Plc about two weeks before the U.K. software company reported a profit warning that sent the stock tumbling, people familiar with the matter said.
Goldman Sachs Group Inc.’s trading desk began to market the stake on June 14, the people said, asking not to be named as the details aren’t public. The seller was a U.S. hedge fund, two of the people said.