December 11, 2013 / 12:00 PM / 5 years ago

Private equity backers CVC sell bpost stake for 580 million euros

BRUSSELS (Reuters) - Private Equity group CVC Capital Partners CVC.UL sold its remaining 19.7 percent stake in Belgian postal group bpost (BPOST.BR) for a total of 580 million euros ($798.74 million), the firm said on Wednesday.

CVC sold 39.33 million shares at 14.75 euros a piece, slightly below the price of 15.24 euros the shares traded at when they were suspended on Tuesday.

The firm had already disposed of a large stake in the Belgian postal service in June, when it conducted an initial public offering on the Brussels exchange at 14.50 euros per share.

The Belgian state continues to be the majority owner of the group, holding a stake of 50.01 percent.

Nomura International and UBS Ltd were the joint bookrunners and KBC Securities the lead manager of the deal ($1 = 0.7261 euros)

Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop

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