(Reuters) Scottish investment firm Kiltearn Partners has suffered a 70 million-pound ($91 million) paper loss on its investment in Carillion after the construction firm’s shares lost almost three quarters of their value following a profit warning in July. Carillion disclosed on Aug. 11 that Kiltearn had doubled its stake to 10 percent at the start of February when shares were trading at around 225 pence each, becoming the company’s biggest shareholder. But Carillion’s shares have tumbled about 75 percent since February and more than 70 percent from early July to close at 54.85 pence on Monday. The plunge has knocked about 70 million pounds off the value of Kiltearn’s shareholding.
Scottish Fund Kiltearn Hit by Carillion’s Troubles
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