Carlyle Group Cuts Booz Allen Ownership Stake to 20%

BoozAllenLogoGlobal investment firm Carlyle Group will reduce its ownership stake in consulting services provider Booz Allen Hamilton (NYSE: BAH) to 20 percent through a sale of 13 million shares to Credit Suisse for $388, 440, 000.

Booz Allen said Tuesday the transaction is valued at $29.88 per share — the firm’s Tuesday closing figure — and the sale will close by Monday.

Credit Suisse will offer the shares periodically on the New York Stock Exchange, over-the-counter markets, through negotiated transactions or other methods.

Carlyle Group last cut its Booz Allen stake to 29 percent in February through a sale of 12 million shares to Morgan Stanley & Co.

Prior to that in November 2014, Carlyle reduced its stake to 37 percent when the firm sold 10 million shares to J.P. Morgan.

Shares in Booz Allen are up 12.63 percent from the year’s start and have risen 12.75 percent over 12 months.

Check Also

Michael McHugh CEO DirectViz Solutions

DirectViz COO Michael McHugh Promoted to CEO

Michael McHugh, chief operating officer of DirectViz Solutions, has elevated to the CEO post at the Chantilly, Va.-based information technology engineering and professional services contractor.

MQ-4C Triton

Navy Plans Triton UAS Test Support Order for Northrop

The Department of the Navy plans to award Northrop Grumman’s (NYSE: NOC) aerospace systems business a delivery order to provide analysis support for demonstration activities involving the MQ-4C Triton unmanned aerial system.