Monday, November 7, 2011

Vought Cash-In: Carlyle's Next Round

WSJ reported:

Triumph Group said 5 million of its common shares are being offered by investment fund and other entities associated with The Carlyle Group. Upon completion of the offering, Carlyle will own approximately 9.5% of Triumph's stock. The company, which had 49.1 shares outstanding as of Nov. 1, will not receive any of the proceeds. The stock was down 3.9% at $54.76 after hours. 

Triumph made the announcement via press release.  MarketWatch picked up the story after the close of trading.

I'm waiting for an SEC filing on the matter.   Might Carlyle use a portion of their $250 million in proceeds to refund Texas taxpayers for reneging on employment promises made by Vought Aircraft Industries, later acquired by Triumph?

Governor (and Presidential hopeful) Rick Perry's hairspray can't hold together his ridiculously inflated job-impact numbers, promised under Carlyle ownership.

As a virtual nonprofit,  Carlyle takes money from governments.  It rarely pays.

Update 11-8-11:  The prospectus is not on the SEC's website.  It must be obtained from Morgan Stanley & Co. LLC, Attn:  Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone:  (866) 718-1649 or by emailing

Update 11-9-11:  The prospectus made it to the SEC website. There was no mention of making Texas, much less making Texas taxpayers whole.