July 17, 2012

Carlyle cashing SS&C stake worth $182M

Wall Street equity investor The Carlyle Group is cutting its stake in Windsor financial software vendor SS&C Technologies Holdings Inc., authorities say.

Based on SS&C's closing price Tuesday, Carlyle's offer of seveb million shares is worth about $182 million. Settlement is expected on Monday.

SS&C announced the offering after the market close, and said it won't receive any of Carlyle's proceeds from the sale.

Officials for both companies could not be immediately reached for comment late Tuesday.

After the sale, investment funds affiliated with The Carlyle Group will own approximately 27.37 percent SS&C outstanding common, officials said.

Citigroup is acting as the sole underwriter for the offering.

Comments

Type your comment here:

Today's Poll When will the construction industry recover?<>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2014 New England Business Media