Crocs buys back half its Blackstone shares
NIWOT — Crocs Inc. (Nasdaq: CROX) based in Niwot will buy back half of the shares that Blackstone Capital Partners VI L.P. acquired in 2014.
The preferred shares were acquired in a $200 million investment by Blackstone. The buyback will be valued at $183.7 million.
The Blackstone shares carried a cumulative dividend payable in cash at a rate of 6 percent per year and received an allocation of net income in any fiscal quarter in which there were positive earnings, according to a statement from Crocs to investors.
Half the…
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