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Thornburg Investment Sells Check Point Stake for $800 Million

The US private equity fund sold its entire 6.1% stake in the company.
gil_shwed

Gil Shwed

US private equity fund Thornburg Investment Management has sold its entire stake in Check Point Software Technologies Ltd. (Nasdaq:CHKP) for an estimated $800 million. The fund made the investment in late 2012, with the purchase of 12.5 million shares, 6.1% of the company’s share capital.

Check Point’s share price rose 37% in the 12 months preceding Thornburg’s sale, giving the fund a handsome return on its investment.

Checkpoint chairman and CEO Gil Shwed is the largest shareholder in the company, with a 15.5% stake.

Check Point, which has a market cap of $12.6 billion, will publish its fourth quarter and full-year financial report for 2013 on Tuesday, January 28.

 

Published by Globes [online], Israel business news – www.globes-online.com 

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