By Josh Beckerman
Telecommunications products company CommScope Holding Co. said
Wednesday that Carlyle Group LP will sell 20 million CommScope
shares, nearly nine months after another stock sale by the
private-equity firm.
Goldman Sachs is the sole underwriter for the offering.
An upsized offering of up to 20.1 million shares, including the
overallotment option, priced at $22 each in June. Another stock
sale of the same size was completed in March 2014.
Carlyle will hold about a 42% stake if the overallotment option
is exercised.
CommScope shares were flat in after-hours trading at $31.18.
In January, CommScope said it would buy TE Connectivity Ltd.'s
broadband-networks unit for about $3 billion. CommScope also
projected 2015 revenue, excluding the acquisition, will range from
flat to down 5%, citing factors including a spending decline from
North American wireless carriers.
Carlyle sold out of several profitable investments during 2014,
including stakes in headphone maker Beats Electronics LLC,
government consultant Booz Allen Hamilton Holding Corp. and
building-material distributor HD Supply Holdings Inc.
Write to Josh Beckerman at josh.beckerman@wsj.com
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