NRDC Equity Partners sells HBC shares in $140 mln secondary deal
Canadian retailer Hudson's Bay Co (TSX: HBC) has completed a previously announced secondary offering of 7.9 million common shares at a price of $17.80 per share, generating gross proceeds of about $140 million. The transaction sold stock previously held by U.S. private equity firm NRDC Equity Partners and an affiliate, which acquired the company in 2008. A short form prospectus issued by Hudson's Bay in May indicated that NRDC's interest in the company would be reduced to 38.8 percent of all outstanding common shares from 43.1 percent as a result of the offering. Hudson's Bay went public in late 2012.
3 June 2014•5 mins read
