BC Partners Buys 20% Stake in Office Depot
BC Partners this morning invested $350 million into retailer Office Depot Inc. (NYSE: ODP), which represents approximately a 20% ownership stake. The investment includes $275 million in newly-created 10% Series A convertible perpetual preferred stock, convertible at $5 per share (32% premium to yesterday's $3.79 per share closing price), and $75 million of newly-created 10% Series B convertible perpetual preferred stock, convertible at the same terms (assuming shareholder approval).
23 June 2009•7 mins read
