Sirona stock drops on news of possible sell-off
By DrBicuspid Staff
August 21, 2008 -- Shares of Sirona Dental Systems fell $2.64, or 9%, to $25.85 on August 20 after a private equity firm that holds more than two-thirds of the company's stock said it may sell part or all of its stake in Sirona.
According to a shelf registration filing with the Securities and Exchange Commission, Sirona Holdings Luxco S.C.A. could sell its entire holding, nearly 37 million shares (67.5% of all available Sirona shares). The holding company, which comprises Madison Dearborn Partners, Beecken Petty O'Keefe, and members of Sirona's management, bought a controlling interest in the company in June 2005.
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