European Strategic Investors Holdings NV is to transfer 13,050,000 ordinary shares in British clothing manufacturer Coats Viyella Plc to European Renaissance Fund, an organisation managed by Arlington Capital Investors Limited.

European Renaissance Fund already holds 11,110,000 shares in Coats Viyella and will see its stake in the company increased to 24,160,000 following the transfer.

In a letter to Coats Viyella, Arlington stated that the reason for the transfer was that European Strategic Investors Holdings NV has come to the end of its life and was to be liquidated.