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Party City Announces Repurchase of Common Stock

PARTY CITY HOLDCO INC (PRTY)  More Company Research Source: Business Wire
Last party city holdco inc earnings: 8/9 07:00 am Check Earnings Report
US:NYSE Investor Relations: investor.partycity.com/investors/default.aspx
PDF ELSMFORD, N.Y.--(BUSINESS WIRE)-- Party City Holdco Inc. (NYSE:PRTY (the “Company”)) today announced the purchase of 19,841,694 shares of common stock for an aggregate consideration of $242 million from Advent-Party City Acquisition Limited Partnership (“Advent”), constituting all of Advent’s shares of the Company. The Company intends to fund the share repurchase with borrowings under its revolving credit facility. Funds associated with Thomas H. Lee Partners, L.P. will not sell any of their shares in connection with the transaction. Party City CEO Jim Harrison said, “We believe this transaction provides an opportunity to increase shareholder value and is immediately accretive to earnings per share. Additionally, this transaction removes a share over hang associated with Advent’s long term shareholder interest in the business. Our business maintains very strong cash flow characteristics, and with the add [Read more]

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