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Debenhams share price dives as investor sells stake

Debenhams share price dived by 17% yesterday as a major investor sold its remaining stake in the department store business.

Merrill Lynch Private Equity has sold its 6.2% stake in the chain at 60p compared to the 195p price when Debenhams floated last May.

Debenhams shares dipped 17% to 59.25p following the sale.

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