DynCorp plans IPO [View All]

Murder and mayhem going public...

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DynCorp International, the U.S. Department of State’s main contractor in the spraying of South America’s coca fields, filed with the Securities and Exchange Commission last month to sell $450 million worth of stock in an initial public offering.

According to the SEC filing, Dyncorp intends to use the proceeds from the offering to pay some debt and to reward unnamed insiders with a special $100 million dividend.

Listed among the directors of the company is retired U.S. Army general Barry McCaffrey who was SOUTHCOM’s commander from 1994 to 1996 and President Clinton’s anti-drug czar from 1996 to 2001.

Currently, DynCorp is owned by Veritas Capital, a private equity firm that specializes in the acquisition of defense companies.

Until February DynCorp had been owned by Computer Sciences Corporation, which acquired the company in 2003. CSC sold DynCorp to Veritas for $850 million.

http://narcosphere.narconews.com/story/2005/10/23/3107/2013