KKR, Goldman exit stake in US retailer Dollar General for $252M

By VCPOST Staff Reporter

Dec 13, 2013 05:14 PM EST

KKR & Co and Goldman Sachs Group Inc's private equity arm quietly exited their investment in Dollar General Corp on Wednesday. Investors agreed to pay almost three times the price in the US discount retailer's initial public offering (IPO), wrote The Wall Street Journal.

People familiar with the situation said KKR and Goldman agreed to close out their final 4.2 million shares in Dollar General. These sources said buyers offered $60.71 per share to Barclays PLC, which purchased the entire block. In comparison, the discount retailer's 2009 IPO was priced at $21 per share. This latest deal was valued at around $252 million, the report detailed.

According to Dealogic, some of Dollar General's subsequent stock sales fetched prices of $30.50, $39, and $45.35 per share. The latest stock sale priced almost $10 higher than the previous $1.75 billion offering in March which fetched a per-share price of $50.75, the report added.

On Friday morning, Dollar General's stock went down 0.3% at $60.31 per share. The said stock increased 37% year-to-date, The Wall Street Journal reported.

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