Avista, Ontario Teachers to relinquish control of INC Research
INC Research Holdings Inc (Nasdaq: INCR), which went public in 2014, announced that Avista Capital Partners and Ontario Teachers’ Pension Plan intend to sell 6 million shares of the company's Class A common stock in a secondary deal. INC Research also agreed to repurchase about 3 million shares in a private transaction. As a result, Avista and Ontario Teachers will own less than 50 percent of total voting power. Raleigh, North Carolina-based INC Research, a clinical research organization that provides services to biopharmaceutical and medical device industries, was acquired by Avista and Ontario Teachers in 2010.
2 December 2015•4 mins read
