June 10 (Reuters) – Odey Asset Administration has bought its 19% stake in UK-based retailer AO World Plc (AO.L) to Frasers Group (FRAS.L), Sky Information reported on Saturday.
Frasers Group purchased the stake for 75 million kilos ($94.27 million), the report stated.
Odey Asset Administration, AO and Frasers Group didn’t instantly reply to a request for remark by Reuters.
On Friday, asset managers Schroders Plc (SDR.L) and Canada Life moved to chop again their dealings with Odey Asset Administration, citing allegations of sexual misconduct by its founder, Crispin Odey, that have been revealed by the Monetary Occasions and Tortoise Media a day earlier.
He denies all wrongdoing and has no recognized prison conviction.
On Thursday, Reuters reported that the British hedge fund’s prime brokers, together with Goldman Sachs (GS.N) JPMorgan (JPM.N) and Morgan Stanley (MS.N), have been reviewing their relationships with Odey over the allegations.
Odey Asset Administration advised traders in a letter dated June 8, which was seen by Reuters, that it “doesn’t recognise the image of the agency that has been painted” by the allegations.
($1 = 0.7956 kilos)
Reporting by Jose Joseph and Urvi Dugar in Bengaluru; Enhancing by Alex Richardson and Helen Popper
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