Alan Sugar buys into Woolworths
Published: 10 October 2008
Entrepreneur and TV personality Sugar snaps up 3.9% of High Street chain.
In a stock exchange statement, Alan Sugar today confirmed that he had built up a stake of 3.9% in Woolworths through his investment vehicle Amsprop London.
The millionaire Amstrad founder is thought to have paid £1.8m for 57 million shares in the company, making up a 3.88% stake.
Woolworth's share prices have fallen more than 80% over the past year but are reported to have risen 7% in mid-morning trading.
The news comes on the same day that Woolworths announces it will sell a reported nine of its long-term leases to Tesco for £9m.