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Boston Private Financial Holdings (BPFH) plans to buy back all of the preferred stock held by its largest investor, the Carlyle Group, for approximately $70 million.
April 17 -
Carlyle Group plans to sell roughly $40 million of common stock in Boston Private Financial Holdings.
May 30
Carlyle Group is selling off the last of its stake in Boston Private Financial Holdings (BPFH).
BP Holdco, an affiliate of the private equity firm, plans to sell about $42 million of stock in the Boston company through a secondary offering, Boston Private announced Tuesday. The 3.8 million shares represent an ownership stake of roughly 4.7%.
Carlyle has been reducing its stake in the $6 billion-asset company this year. In April, Boston Private agreed to
In 2008, Carlyle invested $75 million to become Boston Private's biggest shareholder. The firm held a stake of just under 10% on March 31, according to
Citigroup (NYSE: C) and Sandler O'Neill are co-managing the latest sale.