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Thomas H. Lee, Goldman to Reduce MoneyGram Stake Via Secondary

It looks like Thomas H. Lee and Goldman Sachs are selling some of their MoneyGram International stock.

Today, MoneyGram announced a secondary offering where stockholders–Thomas H. Lee and Goldman– are offering 11.25 million shares. Underwriters on the deal also have an option to buy an additional 1.7 million shares. Morgan Stanley, Goldman and BofA Merrill Lynch are joint bookrunners on the deal.

Thomas H. Lee is only selling about 3.7 million shares in the secondary. The Boston PE firm will see its stake fall to 48.3% (before the greenshoe) from 53.3%, according to a Nov. 14 SEC filing.

Goldman Sachs, which owned 30% of MoneyGram before the secondary, is offering the majority of stock, or 7.5 million shares. Goldman will see its stake fall to 19.8% before the greenshoe.

Dallas-based MoneyGram is a money transfer company. In March, Thomas H. Lee and Goldman recapitalized MoneyGram. Thomas H. Lee converted all of its Series B shares into common stock and ended up with 55% of MoneyGram. Goldman Sachs converted all of its Series B-1 preferred shares into Series D participating convertible preferred stock, which represented a 30.3% stake.