Investment Fund La Mancha trims Endeavour Mining stake in $435 million deal

Jan 9 (Reuters) - Luxembourg-based La Mancha Resource Capital said on Friday that its fund sold part of its stake in gold producer Endeavour Mining for about C$605 million ($435.44 million).

La Mancha said it sold 8.5 million Endeavour shares, or about 3.5% of the company, in a bought-deal offering priced at C$71.25 per share.

The price represents a discount of about 8% to Endeavour's EDV.TO previous close on the Toronto Stock Exchange.

La Mancha said it made the sale to reduce leverage and rebalance its portfolio after the fund's exposure to Endeavour increased significantly.

Endeavour's Canada-listed shares fell 6.3% on Friday.

($1 = 1.3894 Canadian dollars)