Lavazza Lowers Stake in Green Mountain Coffee Roasters (GMCR) to 5.5%
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In an amended 13D filing on Green Mountain Coffee Roasters (NASDAQ: GMCR), Lavazza disclosed a 5.5%, or 8,513,752 share, stake in the company. This is down 7.21% from the 9,174,991 shares previously held.
From the Filing:
Lavazza remains committed to its long-term cooperative and strategic relationship with the Issuer. In light of global economic conditions, and particularly those in Europe and in Italy, however, Lavazza has reviewed its minority investment in the Issuer and considered ways in which some of the value of such equity investment can be either ensured or monetized. Under the SPA, Lavazza is precluded from entering into any hedging or similar transaction with the same economic effect as a sale of any shares of Common Stock. In its consideration of alternatives, Lavazza asked the Issuer if it would consent to Lavazza hedging a portion of its investment. Following these discussions, Lavazza and the Issuer agreed to amend certain provisions of the SPA with respect to the sale or hedging of shares of Common Stock held by Lavazza pursuant to a Second Amendment to Common Stock Purchase Agreement, dated as of February 23, 2012.
For more notable holders of Green Mountain Coffee Roasters stock click here.
From the Filing:
Lavazza remains committed to its long-term cooperative and strategic relationship with the Issuer. In light of global economic conditions, and particularly those in Europe and in Italy, however, Lavazza has reviewed its minority investment in the Issuer and considered ways in which some of the value of such equity investment can be either ensured or monetized. Under the SPA, Lavazza is precluded from entering into any hedging or similar transaction with the same economic effect as a sale of any shares of Common Stock. In its consideration of alternatives, Lavazza asked the Issuer if it would consent to Lavazza hedging a portion of its investment. Following these discussions, Lavazza and the Issuer agreed to amend certain provisions of the SPA with respect to the sale or hedging of shares of Common Stock held by Lavazza pursuant to a Second Amendment to Common Stock Purchase Agreement, dated as of February 23, 2012.
For more notable holders of Green Mountain Coffee Roasters stock click here.
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