Performance Food Group Unveils $229M Secondary Offering

Law360, New York (January 11, 2017, 3:30 PM EST) -- The Blackstone Group LP continued to shed its stake in food services company Performance Food Group Co. on Wednesday, raising about $221.6 million from the sale of 9.7 million shares in its second secondary offering in as many months.

In total, Blackstone and Lexington Partners sold 10 million shares in Performance Food on Wednesday at $22.85 apiece, raising $228.5 million, according to filings with the U.S. Securities and Exchange Commission. Blackstone, which had the much larger 35.6 percent stake in the company prior to the offering,...
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