Carlyle and Onex Selling 25M Shares of Allison Transmission
February 26, 2014
The Carlyle Group and Onex are selling 25 million common stock shares of automatic transmission manufacturer Allison Transmission (NYSE: ALSN), reducing their ownership stakes from 27.1% each to a combined aggregate 41%. Subject to completion of the offering, Allison will repurchase roughly $100 million of the 25 million shares. The Carlyle Group and Onex bought the company for $5.58 billion from General Motors in 2007. Since taking it public for $600 million in 2012, The Carlyle Group and Onex have gradually sold off their stakes, raising approximately $802 million of combined capital through two additional offerings in August and November 2013.