US investment fund doubles down on Kindred Group stake
Capital Group increases holding to more than 10% to become largest shareholder in Stockholm-listed operator
US investment management firm The Capital Group has become the largest shareholder in Kindred Group after doubling its stake in the Malta-headquartered operator. Capital Group now holds a 10.53% stake in the firm, amounting to 24,236,814 shares. Filings indicate that the shares will be held by Capital Group’s American Funds SmallCap World mutual fund. Crucially, this slice of the business gives the Capital Group significant voting rights, which it can use to block or endorse any takeover by another operator or interested party. The fund has increased its holdings in Kindred on two separate occasions, firstly in January where it took its stake from 4.58% to 5.03%.