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Adecco: Silchester cuts stake to below 5%

(CercleFinance.com) - Silchester International has sold shares in Adecco, thereby cutting its holding in the Swiss staffing group, according to a filing on Friday.

The investment management firm - which owned 5.02% of Adecco a year ago - has lowered its stake to just below the 5% threshold, as which it is obliged to inform the market, the filing showed.

According to its website, Silchester - which was formed in 1994 to invest on behalf of institutional investors - seeks to earn an "attractive long-term investment return through investment in listed international equities."

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