Odey Asset Management Continues Crisis Management with Stake Sale and Breakup Plans

Odey Asset Management, a crisis-hit hedge fund, has been selling off its public company holdings, including a multimillion pound stake in Wagamama's parent company, The Restaurant Group (TRG).

Oasis Management, which has been pushing for an overhaul of TRG, purchased the stake, taking its holding to about 14.5%.

This is the latest in a series of stake sales by Odey as it tries to contain the fallout from sexual assault claims against its founder.

Odey Asset Management also plans to break itself up, with some fund managers in talks to join other firms.

Oasis has criticised TRG's boardroom pay practices but failed to win support at the company's recent annual meeting.