Author: Jane Edwards|| Date Published: May 24, 2016
The Carlyle Group (Nasdaq: CG) has cut its ownership stake in Booz Allen Hamilton (NYSE: BAH) to 11.3 percent after the private equity firm sold 13 million shares to Morgan Stanley & Co. for $377.13 million.
Booz Allen said Monday the transaction is valued at $29.01 per share and the sale will close by May 27.
Morgan Stanley will offer the 13 million shares of Class A common stock to the public at a fixed price, according to Booz Allen.
Carlyle Group last reduced its Booz Allen stake to 20 percent in November through a sale of 13 million shares to Credit Suisse.
Booz Allen reached a 52-week high of $31.24.
Shares in Booz Allen have declined 5.96 percent since the start of the year and have risen 15.53 percent over 12 months.
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The Carlyle Group (Nasdaq: CG) has cut its ownership stake in Booz Allen Hamilton (NYSE: BAH) to 11.3 percent after the private equity firm sold 13 million shares to Morgan Stanley & Co. for $377.13 million.
