Del Webb Corp. Stake Sold: Industrial Equity...
From Times Staff and Wire Reports
Del Webb Corp. Stake Sold: Industrial Equity Pacific has sold its 9.7% stake in the Phoenix-based retirement community developer to D. S. Kennedy & Co., a San Francisco-based money manager. The transaction, involving 910,900 shares, was done at the end of trading Monday, Webb said. Webb stock closed at $6.375 that day; it closed at $7.125 on Wednesday. Los Angeles investor James Cotter also holds a 9.7% stake in Webb. Kennedy and Industrial Equity officials couldn’t be reached for comment.
