Four shareholders of BankUnited (BKU) in Miami Lakes, Fla., plan to sell up to $291 million of common stock.
The investors Blackstone Group, Carlyle Group, WL Ross & Co. and Centerbridge Partners will sell 8 million shares of common stock at $31.65 each.
The sale is expected to close Jan. 31. The $15 billion-asset BankUnited will not receive proceeds from the offering. Underwriters will have a 30-day option to buy an additional 1.2 million shares from the sellers.
The sale will reduce private equity's ownership of BankUnited to 13.4%, from 21.4%, analysts at Keefe, Bruyette & Woods wrote in a Wednesday note to clients.