Aramark Services's (ARMK) Common Stock Buyback is Credit-Negative Development - Moody's

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Aramark Announces Secondary Common Stock Offering and Concurrent Company Share Repurchase from Selling Stockholders of 1.5 Million Shares

August 17, 2015 4:51 PM EDT

PHILADELPHIA, Aug. 17, 2015 /PRNewswire/ -- Aramark (NYSE: ARMK) today announced that certain of its stockholders, consisting of affiliates of GS Capital Partners, Thomas H. Lee Partners, L.P. and Warburg Pincus LLC (collectively, the "Selling Stockholders"), intend to offer for sale in an underwritten secondary offering (the "Offering") 22,468,514 shares of its common stock pursuant to Aramark's shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). The Selling Stockholders will receive all of the proceeds from this Offering. No shares are being sold by management or Aramark. The last reported... More