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Onex, Baring Private Equity Asia cut stake in Clarivate Analytics

A group of shareholders including Onex Corp., Baring Private Equity Asia and their fund affiliates are selling 34.5 million ordinary shares of Clarivate Analytics PLC at a price of $16.00 apiece.

The secondary offering, set to close Sept. 10, comes with a 30‑day option for the underwriters to buy up to 5.175 million additional shares of the insights and analytics provider.

Excluding the underwriters' option, the shareholder group is expected to raise gross proceeds of approximately $552 million, of which Onex's share is estimated at about $144 million as a limited partner in Onex Partners IV LP and as a co-investor.

Following the offering, Onex, Baring and their affiliated funds will still collectively hold about 183.0 million ordinary shares of Clarivate, representing a 60% stake. Onex will continue to hold approximately 49.8 million ordinary shares for a 16% interest.

Separately, Onex and its fund affiliates are selling roughly 30.0 million shares of aseptic carton packaging company SIG Combibloc Group AG at CHF12.00 apiece, for gross proceeds of about $367 million.

Onex's share from the proceeds in the secondary offering of SIG shares will be about $129 million as a limited partner in Onex Partners IV and as a co-investor.

Onex and its affiliated funds will continue to hold about 133.2 million shares, or a 42% stake, in SIG. Onex will continue to hold roughly 46.9 million shares, or a 15% stake, in SIG, once the offering closes Sept. 9.