|
|
Article: Sun Capital sells some of its FBI stake.
- Article from:
- Furniture-Today
- Article date:
- March 16, 2009
CopyrightCOPYRIGHT 2009 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By Heath E. Combs
BOCA RATON, FLA. -- Investment firm Sun Capital Partners has trimmed its stake in Furniture Brands International by selling 711,853 shares of the company since Feb. 19, according to a Securities and Exchange Commission filing.
In January, Sun Capital had said that it was cutting back on equity investing in minority stakes in companies due to the substantial resources it requires, and that it would focus instead on buying distressed debt.
Last May, the firm's stake in Furniture Brands consisted of 4.6 million shares of stock. By March 6 of this year, its holdings had been reduced to 3.9 million shares or 7.9% of FBI's ...