The company announced today that Countrywide PLC had sold 9,234,473 ordinary shares in Zoopla Property Group PLC between 9th August 2016 and 21st September 2016.
It was previously announced in Countrywide’s half-year report that the company had raised £13m on the part disposal of Zoopla Property shares in February.
The total gross value of the shares sold in the year amounted to £29.2m.
With this divestment Countrywide no longer has a holding in ordinary share capital of Zoopla.
Countrywide confirmed that proceeds of the sale would go towards reducing their corporate debt as well as general corporate purposes.
Countrywide had reported healthy H1 results with operating profit up 75% to £28m and 10 business acquired for a total consideration of £39m.
Zoopla also cited positive figures in its half-year report with revenue increasing by 130% to £96.4m and earnings before interest, taxes, depreciation and amortisation up 89% to £40.5m.
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