Private equity owner cuts stake in HellermannTyton
LONDON (Reuters) - Private equity group Doughty Hanson said it sold a 20.9 percent stake in cable equipment maker HellermannTyton Group Plc (HTY.L) for about 119 million pounds ($191.21 million).
Doughty Hanson, which bought HellermannTyton in 2006, holds 46.6 million shares, or 21.6 percent, of the company after Wednesday's placement.
The Europe-focused buyout firm sold 45 million shares in HellermannTyton at 265 pence each, it said in a statement.
Shares in HellermannTyton, which makes devices for fastening, fixing, identifying and protecting cables, closed at 282 pence on Wednesday on the London Stock Exchange. The stock has risen 45 percent since its listing in March.
Joint bookrunners Goldman Sachs and Morgan Stanley have agreed to waive the Doughty Hanson Initial Public Offering lock up, which was set to expire on Sept 29.
Numis Securites was appointed lead manager for the placing.
($1 = 0.6224 British pounds)
(Reporting by Tommy Wilkes in London and Abhirup Roy in Bangalore; Editing by Chris Vellacott and David Evans)
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