Before Berry went public in
Since Berry went public, Apollo and Graham have been gradually reducing their ownership stake in the plastics manufacturer.
In the current offering, Apollo plans to sell just more than a third of its current Berry stock holdings.
Apollo currently owns 33.7 million shares of Berry stock, which represents 28.9 percent of Berry's total outstanding shares. After reducing its stake, Apollo will own 21.2 percent, or 24.7 million, Berry shares.
Proceeds from the stock offering will go to Graham -- Berry will not receive any of the proceeds.
This marks the third time Apollo has sold off some of its Berry shares. In July, Apollo and Graham offered a combined 15 million shares of Berry stock. And in April, the two investment firms offered a combined 16.5 Berry shares for sale.
Berry is an international company that makes a variety of plastics products including drink cups, consumer product packaging, films, tapes and trash bags.
Shares of Berry were trading at
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