By Chris Vellacott
LONDON, March 5 (Reuters) - British investment group JupiterFund Management's second-biggest shareholder, private equityfirm TA Associates, has sold its entire 11 percent stake for197.2 million pounds ($328.79 million).
Jupiter shares had closed prior to the sale's launch at428.7 pence.
After Jupiter's stock market listing in 2010, the privateequity group held 22.3 percent of the shares but has sincegradually reduced its holding through a series of placingsstarting with a 3.3 percent sale, in May 2011.
TA Associates completed two sales last year, taking itsholding from around 19 percent to 11 percent.
A source close to the deal said the offer, which launchedafter the market close at 1630 GMT on Tuesday, was fully coveredwithin an hour and closed at around 2000 GMT, priced at the topend of a 400-406 pence range.
The bulk of the shares were sold to British institutions,the source said, and while existing shareholders used the saleto add to their stakes, a significant number of new investorsemerged.
Jupiter declined to comment on the transaction.
- Director Dealings
- Mergers, Acquisitions & Takeovers
- TA Associates