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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.

Jon Springer, Executive Editor

September 27, 2012

1 Min Read
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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.

 

About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

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