Odey scrambles to sell Pendragon stake
19 June 2023
Odey Asset Management is understood to have sold the bulk of its stake in Pendragon last week. It offloaded over 5% of Pendragon on Thursday morning in a trade executed by investment bank Peel Hunt.
City sources say the buyers were a combination of new and existing shareholders in Pendragon.
The sell-off leaves Odey holding a stake of around 4% in Pendragon. It was part of an “intensifying firesale of assets by the firm”.
Pendragon, Odey and Peel Hunt all declined to comment.
Odey Asset Management last week ousted its founder from the business as part of attempts to stabilise the £3bn firm.
The Sunday Times reports both Crispin Odey and his fund could face sex assault claims. The Financial Times earlier reported 13 women claimed to have been sexually assaulted or harassed by him over a 25-year period.
Crispin Odey has denied the accusations.
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