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The private-equity firms Warburg Pincus and Thomas H. Lee Partners are selling roughly a third of their combined stake in Umpqua Holdings of Portland, Ore.
August 6 -
Umpqua Holdings' agreement to buy Sterling Financial is the latest in a series of deals this year to pair similarly sized banks, creating a new crop of midsize financial institutions.
September 12
Thomas H. Lee Partners and Warburg Pincus are selling the rest of their stock in Umpqua Holdings in Portland, Ore.
The $22.5 billion-asset Umpqua filed documents Tuesday for the secondary offering, disclosing that the private equity firms will collectively sell roughly 28.3 million shares of stock, or a 13% stake in the company. Another 2.9 million shares, borrowed by an affiliate of Barclays, will be sold to hedge exposure to certain warrants.
Umpqua will not receive any proceeds from the sales.
The private equity firms gained their stakes after