14th Jul 2015 16:08
LONDON (Alliance News) - Wizard Parent LLC, which is owned by Francisco Partners, Golden Gate Capital, Thoma Bravo LLC and Elliott Management Corp, Tuesday said it intends to sell a 10% stake in Micro Focus International PLC.
Wizard came to own about 40% of the company when Micro Focus acquired Attachmate Inc in September 2014 in exchange for issuing about 86.60 million shares to its parent.
Wizard is aiming to sell about 21.7 million shares in Micro Focus, which will leave the shareholder with about 29.9% of the company.
The shares are being sold in an accelerated bookbuild, with Morgan Stanley & Co. International PLC and UBS Ltd acting as joint global co-ordinators and joint bookrunners on the placing.
Merrill Lynch International and Numis Securities Ltd are also acting as joint bookrunners
Shares that aren't sold in the placing will be subject to a 90 day lock-up.
By Samuel Agini; [email protected]; @samuelagini
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