Soros Fund Adds to Johnson Services Stake ~ market folly

Monday, May 20, 2013

Soros Fund Adds to Johnson Services Stake

George Soros' family office Soros Fund Management has been gradually adding to its position in London listed Johnson Services Group (LON:JSG).  Soros first disclosed the position in July of 2012, but since then they've nearly doubled it.

Soros Fund has revealed they own 7.19% of voting rights in Johnson Services Group as of May 9th.  This is up from 5.68% in March and almost double from their original 3.87% position in July of 2012.

Per Google Finance – “Johnson Service Group PLC provides services to both consumers and     businesses. The Company operates in four segments: Textile Rental, Facilities Management,     Drycleaning and All Other Segments. Textile Rental consists of workwear rental supply and     laundering, linen rental for the hotel, catering and corporate hospitality markets and sale of ancillary     items. Facilities Management includes delivering building, facilities and property management     services to public, commercial and retail organizations throughout the United Kingdom. Dry cleaning     has over 460 stores nationwide, provides dry cleaning, laundry and ironing services, carpet cleaning     and the supply of dry cleaning consumables and equipment. On February 14, 2012, SGP Property     & Facilities Management Limited (SGP), its subsidiary, acquired specified contracts and assets     of Nickleby & Co. Limited. In December 2012, the Company sold Alex Reid Limited (Alex Reid) to     Christeyns UK Limited (Christeyns).”

For more on this investment manager, check out Soros Fund's new position.

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