Post by
Demon11 on Aug 05, 2015 3:21pm
stb -- here's the story from IR mgr
Thanks for your e-mail. There was no issuance of new shares. SNCF-Participations, a private equity fund 99% owned by SNCF Railway and the French Government, recently completed a strategic review of their entire investment portfolio. Given current world economic issues, including France’s major holding of foreign debt, SNCF-Participations determined that many businesses in their portfolio needed to be monetized and subsequently had to sell shares of STB through a block sale with several Canadian banks. They are doing this with other investments in their portfolio as well as they are in a financial crunch. And no dividend cuts. We’ve paid them for over ten years now and will continue to do so. Fiscal Year 2016 is off to a great start.
Assuming the info provided by STB is correct this appears tobe a rather benign transaction - a bit of an oiver reaction has resulted re" volume
Comment by
TheDude on Aug 05, 2015 3:23pm
We saw that before....what was the size of the disposition? It's totally relevant as it means we could see more pressure on the stock over the next few days OR we are done and can move the f*ck on!