John Paulson Invests $100M In CB Richard Ellis (CBG)
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CB Richard Ellis Group, Inc. (NYSE: CBG) reached an agreement to sell in a direct placement 13,440,860 shares of its Class A common stock for gross proceeds of approximately $100.0 million, to Paulson & Co. Inc. on behalf of several of its investment funds and accounts it manages.
In addition, the Company intends to sell shares of its Class A common stock, having an aggregate offering price of up to $50.0 million, from time to time, pursuant to an at-the-market offering program through J.P. Morgan Securities Inc. as sales agent and/or principal.
Notably, Paulson & Co is a hedge fund run by John Paulson who made billions in the subprime meltdown.
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