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July 25, 2007
Forest City Announces Completion of Secondary Offering
dBusinessNews Cleveland
CLEVELAND -- Forest City Enterprises, Inc. (NYSE:FCEA) (NYSE:FCEB) announced that certain members of RMS, Limited Partnership have completed their resale of 1.25 million shares of Forest City’s Class A common stock through a series of privately negotiated transactions.
RMS, Limited Partnership (controlled by the Ratner, Miller and Shafran families) owns a controlling interest in Forest City. The families sold approximately 3.9 percent of RMS, LP’s aggregate holdings of Forest City stock and approximately 1 percent of the issued and outstanding common stock of the Company. The proceeds from the sale were used for charitable, tax, estate planning and personal liquidity reasons. Following the sale, the families hold approximately 30.1 percent of the total shares outstanding of Forest City Enterprises, Inc.
Posted by lumi at July 25, 2007 8:52 AM