Dollar General Owner to Sell Shares
GOODLETTSVILLE, Tenn. — Dollar General here said Thursday that a group of its owners were looking to sell 30 million shares of company stock.
GOODLETTSVILLE, Tenn. — Dollar General here said Thursday that a group of its owners were seeking to sell 30 million shares of company stock.
No shares are being sold by the company in the offering, and Dollar General said it would not receive any proceeds from the sale. The seller is Buck Holdings L.P., a group controlled by Dollar General’s majority shareholder.
Read more: 'Trade-Down' Shoppers Boost Dollar General
In connection with the offering, certain of the selling shareholders have granted underwriters Citigroup, Goldman Sachs, and Kohlberg Kravis Roberts an option to purchase up to 4.5 million additional shares. Dollar General also said it would repurchase $250 million in stock from Buck Holdings.
Buck holds approximately 34% of Dollar General’s stock but could see its stake fall to 22% as the result of the offering and buyback.
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