BrightView repurchasing shares from MSD Partners

BLUE BELL, Pa. — BrightView Holdings has entered into an agreement to repurchase 5.9 million shares of BrightView common stock from MSD Partners and affiliates at a purchase price of $13.98 per share, representing a 2 percent discount from the NYSE official closing price of BrightView common stock on December 7, 2021.

The repurchase represents half of MSD Partners’ current equity investment in BrightView.

READ MORE: BrightView announces share repurchasing program

The total purchase price for the shares will be approximately $82.5 million and will be funded from cash and cash equivalents on hand, as well as borrowings under the Company’s credit facilities. The transaction is subject to customary closing conditions and expected to be completed in January 2022. Giving effect to the repurchase, MSD Partners would own approximately 5.9 million of BrightView’s 99.3 million outstanding shares.