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Cadence majority shareholder to sell more shares

Cadence Bancorp LLC, the majority owner of Cadence Bancorp., plans to sell 8,050,000 shares of the latter's class A common stock.

It listed a proposed maximum aggregate offering price of $227.1 million, estimated solely to calculate the registration fee.

Houston-based Cadence Bancorp. will receive no proceeds from the sale, and Cadence Bancorp LLC will retain majority voting power.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC serve as the offering's joint lead book-running managers. Keefe Bruyette & Woods Inc. and Sandler O'Neill & Partners LP are passive book runners.