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And Graña y Montero has just sold its big block of Red Eagle ( shares

The epitome of the phrase "distressed sale".

IKN hears that the buyer is a very smart fund and is easily classed as "strong hand holder".

PS: Here's the official letter:

GyM sold 23m shares (8.69% of shares out) at u$0.50 apiece. GyM didn't sell all their holding (still own 10.54m shares) because if they sold more than 10% in one shot they would have been stuck with an extra tax liability.