Entertainment One’s drama

SHARES in Entertainment One slumped after its biggest shareholder sold more than a third of its holding.

Almost £100m was wiped from the value of the Peppa Pig owner after a firm that had backed it from an early stage cashed out.

Entertainment One is also a major distributor of films, including the Hunger Games series, starring Jennifer Lawrence ( pictured).

Investment group Marwyn, which first invested in the British group eight years ago, sold 9pc of the company in a placing. It still owns 17.9pc, making it the largest investor by a stretch. M&G, the secondbiggest, holds just 6.3pc.

But analysts are expecting it to sell more shares in the coming months.

Under the deal, Marwyn has relinquished its board position at the company, and agreed not to sell any more shares for at least 90 days. James Corsellis, its managing partner, had represented Marwyn’s interests on Entertainment One’s board since 2007. He said: ‘This remains an important investment for Marwyn and we continue to be excited by the scale of opportunity that faces Entertainment One.’ He praised boss Darren Throop, finance chief Giles Willits, directors and employees. Throop said: ‘Marwyn’s involvement has been critical to the success and growth of the company.’

Shares yesterday slid by 10pc before closing 32.9p or 9pc lower at 330p.