Saturday November 28, 2020

Norway raised Greencore stake two days before horsemeat find

Norway's sovereign wealth fund increased its holding in Greencore just two days before horsemeat was found in one of the company's sauces, sending its share price plunging.

17th February, 2013
Frightening the Norses: Norway's sovereign wealth fund sank fresh cash into Greencore just before the firm's share price plunged. Photo: Getty

Norway's sovereign wealth fund, the largest such fund in the world, increased its holding in Greencore just two days before horsemeat was found in one of the food company's fresh sauces, sending its share price plunging.

The fund, which has more than $650 million in global assets under management, increased its stake in the Santry-based company to just over 3 per cent last Tuesday, adding nearly 400,000 shares when the stock was trading at just under 108p.

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