Selldown Brings Warburg Pincus Close To Primerica Exit

Law360, New York (February 12, 2013, 4:13 PM EST) -- New York-based private equity firm Warburg Pincus LLC said Tuesday it will sell 2.5 million shares of Primerica Inc., cutting its stake in the life insurer to 4.4 percent and raising as much as $83 million at the stock's opening price.

After the sale, Warburg will own 4.4 percent of Primerica, or about 10.9 percent including warrants to buy new shares, down from as high as 28 percent.

Warburg bought a $230 million stake in Primerica in early 2010, as Citigroup Inc. was preparing to spin...
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