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

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedging Against Reputational Risk in the 21st Century

Feb 12 2016 | 7:18pm ET

For investors, the first step in researching a new fund or manager is to google...