9th Jun 2015 07:15
LONDON (Alliance News) - Private equity firm Kohlberg Kravis Roberts & Co LLP Tuesday sold a further 108.0 million shares in Pets at Home Group PLC, a 21.6% stake in the pet product retailer it listed last year, at 267 pence per share.
BofA Merrill Lynch, the bookrunner on the accelerated bookbuild placing, said that KKR's sale of the 21.6% stake the company raised about GBP288 million for the private equity firm.
KKR will hold a 24.6% stake in Pets At Home on completion of the placing. The private equity firm will not be able to sell any further shares for 90 days following completion.
Pets at Home is not receiving any proceeds from the sale.
Pets at Home shares were down 3.3% at 271.76p early Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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