UBS Group has cut its stake in Spectris to below the 5% reportable threshold, according to a regulatory filing Tuesday, as the British industrial technology firm’s takeover by Kohlberg Kravis Roberts & Co. nears completion.
The Swiss bank’s total position in Spectris fell to zero as of Sept. 19, down from a previously disclosed holding of approximately 5.6%.
The bank said its trading book holdings in the company are now exempt from reporting requirements.
The stake reduction comes as KKR finalizes its 4.15 billion British Pounds acquisition of Spectris, which followed a bidding war with rival private equity firm Advent International.
Advent sold its entire stake in Spectris in recent weeks after its offer was surpassed by KKR's bid of 41.75 British Pounds per share.
The KKR deal has already received key regulatory approvals in several jurisdictions, including the U.S. and Europe, and is expected to close by the first quarter of 2026, according to the company.
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Spectris on Tuesday issued a routine statement confirming its share capital, a procedural step as the British technology firm's 4.15 billion British Pound takeover by private equity firm KKR moves toward completion.
Spectris on Friday issued a routine statement confirming its share capital, a procedural step as the British technology firm's 4.15 billion British Pound takeover by private equity firm KKR moves toward completion.
Spectris on Thursday issued a routine statement confirming its share capital, a procedural step as the British technology firm's 4.15 billion British Pound takeover by private equity firm KKR moves toward completion.
Spectris reported an 11% rise in third-quarter sales on Thursday, as the British technology firm moves into the final stages of its takeover by private equity firm KKR.