Investment Group Buys 5.1% Stake in Apria
COSTA MESA —
A New York investment group said Tuesday that it has bought about 2.6 million shares of Apria Healthcare Group Inc., which is a 5.1% stake in the home care provider.
Cerberus Partners LP and affiliates, all managed by Stephen Feinberg, bought their shares over three days, Feb. 4-6, at $13 a share to $13.38 a share, according to a document filed with the Securities and Exchange Commission.
As part of a major restructuring disclosed earlier this month, Apria said it will buy back 17.3 million shares for $14 each, which amounts to $242 million for 33% of the stock.
