Activist hedge fund raises stake in Ryanair to over 7%
Parvus Asset Management has increased its shareholding in Ryanair Holdings PLC, parent entity of Ryanair (FR, Dublin International), to in excess of 7%, the airline disclosed in a TR-1 filing to the UK's Financial Conduct Authority. The Irish Times newspaper said the activist hedge fund spent almost E230m last week to boost the size of its stake in the budget carrier. The fund's total stake in Ryanair is now worth approximately E1.6b. The filing accompanying the transaction was dated March 7 and shows that Parvus raised its shareholding from 6.047% to 7.017%. Parvus currently holds assets of around US$5.5b and has reportedly acquired similarly sized stakes in Ryanair before, only to sell down later. However, the newspaper added that the fund also has a history of using its shareholder muscle to put pressure on boards to alter a company's strategy.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-03-14/unaligned/activist-hedge-fund-raises-stake-in-ryanair-to-over-7
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Activist hedge fund raises stake in Ryanair to over 7%
Parvus Asset Management has increased its shareholding in Ryanair Holdings PLC, parent entity of Ryanair (FR, Dublin International), to in excess of 7%, the airline disclosed in a TR-1 filing to the UK's Financial Conduct Authority. The Irish Times newspaper said the activist hedge fund spent almost E230m last week to boost the size of its stake in the budget carrier. The fund's total stake in Ryanair is now worth approximately E1.6b. The filing accompanying the transaction was dated March 7 and shows that Parvus raised its shareholding from 6.047% to 7.017%. Parvus currently holds assets of around US$5.5b and has reportedly acquired similarly sized stakes in Ryanair before, only to sell down later. However, the newspaper added that the fund also has a history of using its shareholder muscle to put pressure on boards to alter a company's strategy.<br/>
