PE Giants Sell Stake In UK Chemical Maker For $206M

Law360, New York (March 2, 2012, 12:09 PM EST) -- U.S. private equity giants The Carlyle Group and Vestar Capital Partners have sold their remaining 11.6 percent stake in U.K. chemical manufacturer AZ Electronic Materials for more than $206 million, the firms said Friday.

Carlyle and Vestar said they sold 44 million shares of AZ Electronic, which is listed on the London Stock Exchange, at $4.69 a share. The sale was at a 1.5 percent discount to the stock's Thursday closing price of $4.76.

A Vestar spokeswoman said the sale was executed on Friday and would...
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