Popular BPOP completed the
sale of 5,800,000 shares of common stock of EVERTEC, Inc. (“EVERTEC”)
EVTC. The shares were sold to the public as part of an underwritten
public offering of 15,233,273 shares of EVERTEC's common stock at $20.60 per
share. The selling stockholders included an affiliate of Apollo Global
Management, LLC (“Apollo”), Popular, Inc. (“Popular”), and certain officers
and employees of EVERTEC. Apollo sold 9,205,743 million shares of EVERTEC.
Following the sale, Popular retained a stake of 14.9% in EVERTEC.
As part of the transaction, EVERTEC repurchased from the underwriters
3,690,036 shares of its common stock being sold by the selling stockholders in
the offering.
Total cash proceeds received by Popular from the sale of the shares was
approximately $118 million, net of underwriting discounts. Popular will
recognize an after tax gain of approximately $99 million during the fourth
quarter of 2013.
About Popular, Inc.
Founded in 1893, Popular, Inc. is the leading banking institution by both
assets and deposits in Puerto Rico and ranks 36th by assets among U.S. banks.
In the United States, Popular has established a community-banking franchise
providing a broad range of financial services and products with branches in
New York, New Jersey, Illinois, Florida and California.
For more information, visit www.popular.com
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