BUZZ-REV Group drops as PE sponsor slashes holdings

Reuters03-14

** REV Group's shares down 4.4% at $18.35 before the bell after heavy vehicle maker's secondary offering priced

** Co late Weds announced ~7.4 mln shares sold by American Industrial Partners at $18, 6.2% discount to stock's last sale

** Private equity sponsor American Industrial owned ~9.2 mln shares, or ~17.7% voting stake, per the SEC prospectus filing

** Co has 51.8 mln shares outstanding

** REVG up 25% YTD through Weds, and has risen nearly 90% over the past 12 months

** Goldman Sachs and Morgan Stanley are jt bookrunners for secondary offering

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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