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John Lewis sells its remaining stake in Ocado

Shares in Ocado fall after announcement.

John Lewis pension trust has announced the sale of its 10 per cent stake in home delivery firm Ocado.

The trust, which had held a much larger stake in the online company, sold more than half of its shares when Ocado was floated in July 2010.

Further sales of shares in the company were prevented until last month by a "lock-in" agreement signed between the pension trust and Ocado.

Shares in Ocado fell 44 pence in trading today, following the announcement of the sale.

A statement released by John Lewis detailing the sale says the sale of 57.3mn shares in the company raised over £150mn.

It is understood that investors, in the sale organised for John Lewis by the bank Goldman Sachs, paid 265p a share.