DST Systems completes $650 million stock deals with Argyros group

DST Systems Inc. said Wednesday it completed its $650 million stock transactions involving its large California-based owners led by businessman George Argyros.

The Argyros group got DST’s help to sell to investors nearly 5.4 million DST shares the group owned. The sale, through a public offering, generated $450 million for the Argyros group.

DST also bought nearly 2.5 million additional DST shares the Argyros group owned, paying just under $200 million.

Combined, DST said, the transactions reduced the Argyros group’s 21.8 percent stake in DST to less than 5 percent. DST had agreed to the transactions after facing a challenge from the Argyros group ahead of the company’s shareholders meeting, which was held Tuesday.

This story was originally published May 14, 2014 at 6:15 PM with the headline "DST Systems completes $650 million stock deals with Argyros group."