Investcorp Lists Remaining Fleetmatics Stake For $280M

Law360, New York (September 18, 2013, 3:56 PM EDT) -- Bahrain-based fund manager Investcorp on Wednesday priced its remaining equity stake in Fleetmatics Group PLC, a GPS tracking software for commercial trucks, in a $280 million public offering.

Investcorp will sell 5.9 million shares at $46.79 apiece in a follow-on offering of Fleetmatics, winding down the last of a three-year-old investment. The offering represents about 18 percent of Fleetmatics, which is incorporated in Ireland but based in Massachusetts and listed on the New York Stock Exchange.

The underwriters, led by Barclays Capital Inc. and Bank of...
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