Investment Firm GP Stages $179M Exit From College Operator
By Karlee Weinmann
Law360, New York (September 20, 2013, 11:41 AM ET) -- Latin American buyout specialist GP Investments Ltd. has sold the last chunk of its stake in Brazilian college operator Estacio Participacoes SA for $179.1 million, it said Friday, staging a full exit from the company after shaving its stake through a secondary offering earlier this year.
The deal sent GP's remaining 22 million shares — roughly a 7.6 percent stake — back into the marketplace at $7.82 a pop. The firm said it would pocket net proceeds of $56.5 million in the deal, which gives it...