Warburg Pincus Cuts Down Webster Stake, Sells 10M Shares
December 10, 2012
Warburg Pincus is reducing its stake in Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, through a secondary offering of 10 million shares. The offering priced at $20.10 per share, putting the total offering amount at $201 million. Warburg Pincus has backed Webster since 2009 and continues to own approximately 13.6% of the company's outstanding common stock following this secondary offering.