Oaktree Earns $9M In Sale Of Spirit Airlines Shares

Law360, New York (May 11, 2012, 5:33 PM EDT) -- Various affiliates of distressed buyout firm Oaktree Capital Group LLC have sold about 3.6 million shares of stock in budget airline Spirit Airlines Inc. for $9.39 million, according to a regulatory filing ahead of Friday's first quarter earnings report.

After the May 7 stock sale, Oaktree is still Spirit's largest shareholder, with the selling affiliates maintaining nearly 14 percent of the discount airline's stock. The sale price, about $22.50 per share, represented a near doubling of Spirit's $12 initial public offering about a year ago....
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