Berkshire to exit Aritzia with $437 mln secondary, share buyback
Vancouver-based women’s fashion brand Aritzia Inc (TSX: ATZ) said U.S. private equity firm Berkshire Partners will sell its remaining stake in the company as a result of a secondary offering and share buyback. Berkshire and other shareholders agreed to sell subordinate voting shares for $16.90 per unit, which is expected to generate about $330 million in proceeds. Aritzia also agreed to repurchase shares from Berkshire at the same price. Proceeds going to the investor are expected to total about $107 million. Berkshire acquired Aritzia in 2005. The company went public in Canada in 2016, raising $460 million.
20 February 2019•7 mins read
