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Thomas H. Lee Partners, Goldman to sell MoneyGram shares

28 Mar 2014

money dollar lend borrowThomas H. Lee Partners and Goldman Sachs will sell 8m shares in money transfer company MoneyGram for $16.50 apiece via a secondary offering.

BofA Merrill Lynch, Wells Fargo Securities, Goldman, Sachs & Co, and JP Morgan acted as underwriters for the offering.

MoneyGram will buy back 8.2m shares from Thomas H. Lee Partners for $16.25 per share.

Last October MoneyGram decided to remain public after failing to secure a leveraged buyout offer from private equity firms.

Back in 2008 an investment group led by growth buy-out firm Thomas H. Lee Partnersinvested at least $710m in a recapitalisation of MoneyGram.

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