The Los Angeles-based Tradewinds Global Investors now holds 580,494 shares in Egis, reaching a 7.456% stake in the Hungarian pharmaceutical company, Egis announced on Thursday.
The stake held by Tradewinds Global Investors surpassed the 5% limit requiring a public announcement on June 24. The announcement did not reveal the stake the US investor held before the transaction only said that it was below the 5% limit.
Egis is majority owned by Servier group of France which held 50.91% of the shares on March 1 this year. The only other owner with a stake in excess of 5% on March 1 was FTIF Templeton Eastern Europe Fund, holding 5.76% of the shares.