26th Apr 2016 16:04
LONDON (Alliance News) - Investors in retirement housebuilder McCarthy & Stone PLC outlined plans to offload a 14% stake in the company after the close on Tuesday.
Funds managed by Anchorage Capital LLC, TPG Special Situations Partners, Goldman Sachs European Special Situations Group and Strategic Value Partners LLC will sell 75.0 million shares in the company, which floated in London in November and which was elevated to the FTSE 250 in the quarterly review in March.
Shares in the company closed down 0.6% at 250.50 pence on Tuesday. At that price, the stake sale would be worth around GBP187.88 million.
The transaction will be run by Deutsche Bank AG and Goldman Sachs International as joint global co-ordinators and bookrunners.
By Sam Unsted; [email protected]; @SamUAtAlliance
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