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 4/10 Good --- privateequity.bloggingstocks.com http://privateequity.bloggingstocks.com/rss.xml
Friday, April 18, 2008 --- 81 days ago http://www.bloggingstocks.com/2008/04/16/blackstone-getting-some-green-for-inves
| Filed under: Private equity , Blackstone Group L.P (BX) Founded in 1864, Gerresheimer AG is a modern powerhouse. Based in Duesseldorf, Germany, the company provides packaging solutions for the pharma and life sciences business.
Back in December 2004, Gerresheimer joined Blackstone (NYSE: BX ) in a buyout of about $703 million. Then last June, the company went public.
Well, now it's time to harvest some gains, and Blackstone is selling a 25% stake in the company. That should translate to $386 million million or so. With such a large number of shares hitting the market, the stock price of Gerresheimer did take a hit (about 10%). No doubt, this is a nice win for Blackstone. With ailing IPO and M&A markets, there haven't been many exits lately.
What's more, this deal points to the fact that large private equity firms have a big advantage, since they have a global footprint. And, with the continued troubles in US markets, the action will likely be in Europe and Asia.
In today's trading, Blackstone's shares are up 3.35% to $17.91.
Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements . He also operates MergerBook.com . Permalink | Email this | Linking Blogs | Comments ... |
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