Barclays PLC has built a 6.11% stake in Irish conglomerate DCC PLC, according to a regulatory filing on Monday.
The holding, which crossed the notification threshold on Sept. 15, is composed of a 2.76% interest in voting rights attached to shares and 3.35% held through financial instruments.
The investment comes as DCC, a sales, marketing and distribution group, sharpens its focus on its energy division.
The Dublin-based company recently completed the sale of its healthcare division and also agreed to sell its UK and Ireland technology distribution business.
DCC has said it plans to return 800 million British Pounds to shareholders from the proceeds of the healthcare unit sale.
"We are simplifying our business so that we can focus all our efforts on growth opportunities in the energy sector, which offers the most compelling opportunity for shareholders," Chief Executive Donal Murphy said in a recent statement regarding the strategy.
The filing showed the stake is held through various Barclays entities, including Barclays Capital Securities Limited.
More from this issuer
Related coverage
DCC PLC on Monday announced plans to return up to 600 million British Pounds to shareholders through a tender offer, using proceeds from the recent sale of its healthcare division.
DCC PLC on Tuesday reported a 5.4% drop in first-half adjusted operating profit but reiterated its full-year guidance and detailed plans for a 600 million British Pounds tender offer for shareholders.
DCC plc has agreed to acquire two liquid gas businesses from UGI International, pushing forward with its strategy to focus on its energy division following a series of divestments.
DCC plc said Wednesday it has completed the sale of its healthcare division and plans to return an additional 600 million British Pounds to shareholders as it focuses on its energy business.