Network Acquires 9.6% of Foothill Group Stock
A Channel Islands investment firm said it acquired 9.6% of Foothill Group Inc.’s common stock.
Network Co. Ltd., in a filing with the Securities and Exchange Commission, said it paid nearly $5 million Jan. 3 to buy 985,000 shares of Foothill, a financial services concern with executive offices in Agoura Hills and Los Angeles.
Network holds the shares as an investment and has not decided whether to buy more stock, the filing stated.
Early this month Santa Cruz Resources, an indirect unit of Tucson Electric Power Co., sold its 38% stake in Foothill to several institutional and individual investors, but it was not immediately clear if that’s when Network bought its Foothill shares.
