(Reuters) - Funds managed by Advent International Corp will sell 32 million shares or a 15 percent stake in DFS Furniture Plc (L:DFSD), raising gross proceeds of 94.4 million pounds.
DFS shares will be sold at 2.95 pounds per share via an accelerated bookbuilt secondary placing, Advent said on Thursday.
Private equity firm Advent International had bought sofa retailer DFS in 2010 and is the top shareholder in the company.