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Chemical Week Magazine :: Business & Finance :: United States/Americas

Apollo to cut Taminco stake

6:18 AM MST | December 13, 2013 | —Vincent Valk

Private equity firm Apollo Management (New York) is selling 10 million shares in Taminco at $20/share in a secondary public offering, the company says. Apollo, which owns 70.5% of Taminco currently, will own about 53.5% of the company after the offering is complete, which is expected on 17 December. Taminco shares closed at $20.84 on 11 December. Citigroup, Goldman Sachs, Credit Suisse, Deutsche Bank, Jefferies, Morgan Stanley, and UBS are joint book-running managers for the offering. Taminco had about 66.4 million shares outstanding as of 9...

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