Warburg Pincus Sells Transpacific Stake In $534M Placement

Law360, Washington (November 4, 2013, 2:41 PM EST) -- Private equity firm Warburg Pincus LLC has sold its significant minority stake in Australian waste management firm Transpacific Industries Group Ltd. to a group of institutional investors, reaping 562 million Australian dollars ($534 million) from the sale, Transpacific announced Monday.

According to a Transpacific regulatory filing, Warburg informed Transpacific that it had sold its entire 33.9 percent stake in the company in a placement to unspecified domestic and international investors. The placement valued the shares at AU$1.05 each — a nearly 7 percent discount on Transpacific's...
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