8th Apr 2016 06:45
LONDON (Alliance News) - Private equity firm Advent International Corp on Friday said it agreed to sell a 14.1% stake in FTSE 250 sofa retailer DFS Furniture PLC for GBP90.0 million.
Advent agreed to sell 30.0 million shares at 300.00 pence per share to institutional investors, leaving the private equity firm with a 24.1% stake in DFS, held through 51.4 million shares.
Settlement of the accelerated bookbuild placing is expected to take place on Tuesday next week, Advent said in a statement.
Jefferies International Ltd and UBS Ltd acted as bookrunners and placing agents on the share sale.
Shares in DFS closed at 320.90p on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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