Blackstone to exit NCR

NCR Corp said Sept. 18 that it agreed to pay Blackstone $302 million for 237,673 shares of preferred stock the buyout shop owns. Blackstone is also converting 274,548 shares of preferred stock to approximately 9.16 million shares of NCR common stock. In connection with the conversion, NCR announced the sale of roughly 9.13 million shares in a secondary that includes the Blackstone stock. NCR said it will not receive any proceeds of the offering.

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