ARN might have to sell off some SCA shares

ARN might be forced to shed some of its recently acquired shares in rival SCA after being found to have acted in “unacceptable circumstances” when purchasing the shares.

ARN bought 14.8 per cent shares in SCA in June via fund manager, Allan Gray. At the time of the purchase, Gray had 21.71 per cent voting power in SCA, as well as 20.04 per cent in ARN.