Harbinger To Offload Some Spectrum Shares

Jun 28 2011 | 4:50pm ET

Harbinger Capital Partners plans to sell a big chunk of its stake in Spectrum Brands Holding, which has played a big part in its plan to create a permanent capital vehicle.

Harbinger will sell 5.5 million common shares of the company, which owns such brands as Remington and Toastmaster, alongside 1 million shares to be sold by Spectrum itself. Harbinger's part of the sale accounts for more than 10% of Spectrum's outstanding shares.

None of the proceeds from Harbinger's part of the sale will go to Spectrum.

As part of the sale, Harbinger Group, the permanent capital vehicle that Harbinger sent its controlling stake to last year, promised not to sell any of its 54% stake over the next six months.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of