UPDATE 1-Greenhill officials to sell 3 mln shares to Goldman

Mon May 3, 2010 5:23pm EDT

* Some directors and advisors to sell shares to Goldman

* Shares down 3 pct after the bell May 3 (Reuters) - Boutique investment bank Greenhill & Co Inc (GHL.N) said some of its officials would sell 3 million common shares to its underwriter Goldman Sachs & Co (GS.N).

Greenhill said it would not get any proceeds from the share sale. The selling stock holders are certain managing directors and senior advisers of Greenhill, the company said.

Last month, the company reported first-quarter profit way below analysts' view, hurt by lower financial advisory fees.

Shares of the company fell $2.22 to $86.64 in trading after the bell. The stock closed at $88.86 Monday on the New York Stock Exchange. (Reporting by Supantha Mukherjee in Bangalore; Editing by Jarshad Kakkrakandy)

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