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Burberry stakeholder to sell £520m stake

One of Belgium’s richest men, Albert Frère, is planning to sell his 6.6% share in the luxury fashion retailer Burberry, just one year after declaring a stake in the company.

His holding company Groupe Bruxelles Lambert said the plan to sell the 27.6 million shares, valued at £520m, in a private placement was “part of the implementation of the group’s portfolio rotation strategy” and it is planning to re-invest the capital made from selling the shares. 

Frère first disclosed a 3% stake in Burberry in February 2017, which he increased to 6% in November.

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