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Institutional investors sell shares in Hastings

Various institutional investors in agreed tosell an aggregate of 46,171,359 ordinary shares in the company for 216 penceper share, according to a news release from Barclays Bank Plc.

The placing of the shares, which represent about 7% ofHastings Group's issued share capital, will be payable in cash on usualsettlement terms and is expected to close on or about Oct. 7. Hastings Groupwill not receive any proceeds from the sale.

Selling shareholders included , which iscontrolled by Goldman Sachs GroupInc.'s merchant banking division. Shares were also sold by EdwardFitzmaurice, Narmali Utley and Keith Charlton, who have indirect shareholdersthrough Hastings Investco, as well as by Neil Utley, the Utley FamilyCharitable Trust and Richard Brewster.

Hastings Investco previously owned 57.9% of Hastings Group,according to information available on the company's website. Utley owned a 7.1%stake. Brewster sold 1 million shares and has a remaining stake of 18,133,222shares, corresponding to about 2.8% of Hastings Group's issued share capital,the company said in a separate Oct. 5 filing.

The ordinary shares in Hastings Group held by variousparties that were not part of the placement will be subject to a 90-daylock-up, which is subject to customary exceptions and may otherwise only bewaived with the consent of a majority of the book runners on the deal.

Goldman Sachs International; Barclays Bank Plc through itsinvestment bank; and Credit Suisse Securities (Europe) Ltd. served as jointbook runners on the placing. Peel Hunt LLP served as lead manager on the deal.