L Catterton Group Raises $756 Million in Birkenstock Share Sale

Non-public fairness agency L Catterton and a bunch of workers of Birkenstock Holding Plc raised $756 million on Wednesday from the sale of a block of shares of the US-traded footwear maker.

The holders offered 14 million shares for $54 every, in keeping with an announcement, representing a 9.7 % low cost to the closing worth of $59.78 every on Monday when the deal was introduced. Birkenstock shares closed Wednesday at $54.61 every. They rose to $54.63 apiece in after-market buying and selling.

L Catterton could have a few 73 % stake in Birkenstock after the sale, in keeping with an earlier assertion. The underwriters have an choice to purchase an extra 2.1 million shares from L Catterton.

The sale includes 9.9 million shares solely managed by L Catterton and 4.1 million shares that the personal fairness agency and sure executives and different workers have shared voting and dispositive energy over, in keeping with an announcement and submitting.

Web proceeds from the sale of the shared-ownership inventory shall be used to pay the staff’ tax obligations and excellent loans, the assertion reveals. Birkenstock itself is not going to obtain any proceeds.

The sale is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co., the submitting reveals.

By Amy Or

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