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Activist investor Saba reveals exposure in UK's Unite Group
Aug 5 (Reuters) - Activist investor Saba Capital has built an over 5% exposure in Britain's largest student housing provider Unite Group, a regulatory filing showed on Wednesday.
Here are some more details and context:
• Boaz Weinstein's Saba Capital held 0.084% of voting rights through shares and 5.04% through financial instruments, taking its total interest in Unite Group to nearly 26.4 million voting rights as of July 31, the filing showed.
• Saba will become Unite's fourth largest shareholder, according to LSEG data.
• The disclosure comes as Saba pushes for changes at flexible office-space provider Workspace, including to its board, as it raised its stake over the past few months to become its largest shareholder.
• Unite Group, which reaffirmed its annual forecast in July, has been weighing the sale of its lower-yielding assets to sharpen focus on more resilient services as economic uncertainty and tighter visa rules weigh on enrolments.
• Saba did not immediately respond to Reuters request for additional details, while Unite declined to comment.
(Reporting by Neeshita Beura and Krisha Bhatt in Bengaluru; Editing by Shailesh Kuber)
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