Thomas H. Lee Partners, Goldman to sell MoneyGram shares

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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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